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From the 2024 DOR Tax Exemption Study

3/25/25, 3:14 PM Vessel brokers and dealers When a third-party acts as a closer in a vessel sale and collects and remits sales tax on the sale at the time of registration, is the vessel dealer/broker relieved of the tax collection liability? Brokers are relieved from liability for the collection of the sales tax from buyers when they only receive a commission on the sale and the entire transaction is closed directly between the owner and the buyer. These sales must be reported to the Department of Revenue on the Broker's/Agent’s Transaction Report. After receiving compensation from the transaction, brokers have 10 days to report the sale to the Department of Revenue. This provision applies to both listing brokers and selling brokers. Sales closed in the presence and/or control of the selling broker who receives compensation from the sale are not exempted from the obligation to collect retail sales tax. Retail sales tax rates Brokers/dealers must collect sales tax based on the sales tax rate for the place of sale. If you are unsure about which local code should be used, use our tax rate lookup tool. Place of sale With sales of watercraft, the place of sale is the place at which or f