Author Note

As a licensed Florida yacht broker operating out of Fort Lauderdale under Florida Statute Chapter 326, I have closed transactions ranging from $150,000 center consoles to $4 million motoryachts. The single source of most post-closing surprises is not the vessel — it is the tax and title structure. This guide reflects current Florida Department of Revenue rules as of 2026; consult a maritime attorney or CPA before closing any transaction.

Florida’s Yacht Sales Tax Cap: The Key Number

Florida imposes a 6 percent state sales tax on the purchase of a vessel, plus applicable discretionary surtax (which varies by county — Broward County currently imposes a 1 percent surtax, bringing the effective rate to 7 percent for transactions occurring here). However, Florida caps the total combined sales and use tax on a single vessel purchase at $18,000 (Florida Statute §212.05(1)(a)2). This makes Florida one of the most favorable states in the eastern U.S. for large yacht transactions.

On a $1,000,000 yacht purchased in Fort Lauderdale:

Without the cap, tax at 7 percent would be $70,000
With the cap applied: $18,000
Effective rate at $1M: 1.8 percent

The cap applies only if the vessel is purchased and delivered in Florida. Transactions structured to avoid Florida tax by delivering outside the state carry significant use-tax risk if the vessel is subsequently brought into Florida waters.

The Use-Tax Trap: Boats Purchased Elsewhere and Brought to Florida

This is where buyers — particularly those purchasing through out-of-state brokers and intending to dock in Broward County — get into serious trouble. Florida’s use tax mirrors the sales tax structure and applies to any vessel purchased outside Florida and subsequently used or stored in the state. The Florida Department of Revenue actively monitors vessel registration and USCG documentation databases to identify use-tax exposure.

Key use-tax rules:

A vessel purchased outside Florida and brought into Florida within 6 months of purchase is presumed subject to use tax, unless an exemption applies
Credit is given for sales tax paid to another state — but only states that grant a reciprocal credit to Florida purchases
There is no reciprocal credit from states with no sales tax (e.g., Oregon, New Hampshire) — a buyer who purchased in one of these states and moves the vessel to Fort Lauderdale owes Florida use tax on the full purchase price, subject to the $18,000 cap

The 90-Day Out-of-State Exemption: Understanding Its Limits

Florida provides a use-tax exemption for vessels that are physically removed from Florida within 90 days of purchase and remain outside Florida for at least 180 days. This exemption is used by buyers who intend to use a vessel in the Bahamas or Caribbean before returning to South Florida. The rules are specific:

The vessel must physically depart Florida within 90 days of the sales transaction date
Documentation of the departure must be maintained (fuel receipts, marina invoices, logbook entries, Bahamas customs clearance documents)
The 180-day absence clock must be satisfied before the vessel returns to Florida waters

Buyers who intend to use this exemption should work with a licensed Florida yacht broker and a maritime attorney. BoatUS has published a useful overview of state-by-state tax exposure for vessel purchasers (source: https://www.boatus.com/expert-advice/expert-advice-detail/boat-taxes-by-state).

USCG Documentation vs. Florida State Registration: What the Tax Implication Is

Many buyers conflate vessel titling with tax payment — they are separate. Florida requires sales or use tax to be paid at the time of registration or documentation, but the choice of documentation pathway affects administrative steps.

For a serious yacht purchase — anything above 40 feet with a lender involved — USCG documentation is nearly always the correct pathway. See uscg documentation vs state registration for a deeper comparison. The $18,000 tax cap applies regardless of which documentation method you choose.

Broker Commissions and Closing Costs: The Full Transaction Picture

Beyond sales tax, buyers in Fort Lauderdale should budget for the following closing costs on a typical brokerage transaction:

Broker commission: Typically 10 percent of the purchase price, paid by the seller from proceeds — not the buyer. The IYBA (International Yacht Brokers Association), headquartered in Fort Lauderdale, publishes standard commission and closing procedures (source: https://www.iyba.org/page/brokeragecloseout)
Survey: $20–$25 per foot for a full condition and value survey by an accredited marine surveyor; $15–$20 per foot for an engine survey
Sea trial: Fuel costs borne by buyer in most IYBA standard agreements
USCG documentation filing: $133 for initial certificate of documentation (NVDC fee as of 2026)
Title search and abstract: $300–$600 through a maritime title company
Escrow handling fee: $500–$1,500 depending on transaction size

Lien Checks: The Non-Negotiable Step

Before any funds change hands, a thorough lien search against the USCG’s Abstract of Title database is mandatory. Preferred ship mortgages recorded against a USCG-documented vessel attach to the vessel — not just the owner. A buyer who closes without clearing a pre-existing mortgage takes title subject to that mortgage. title lien checks before closing covers the mechanics of this process in detail.

The USCG National Vessel Documentation Center maintains the official public record (source: https://www.uscg.mil/nvdc/). A clean abstract does not substitute for a formal title insurance policy on high-value transactions — several Fort Lauderdale maritime law firms offer title insurance in conjunction with closing services.

Working With a Licensed Florida Yacht Broker

Florida Statute Chapter 326 requires yacht brokers transacting on vessels over 32 feet to hold a current Florida DBPR Yacht Salesperson or Yacht Broker license. Licensed brokers are required to maintain escrow accounts and adhere to IYBA ethical standards. Verify your broker’s license status at the Florida DBPR online portal (source: https://www.myfloridalicense.com) before signing any listing or buyer’s representation agreement.

Moretti Yachts International brokers are licensed under Florida Chapter 326 and members of the IYBA. Our Fort Lauderdale office handles the full transaction sequence — from pre-offer lien checks through USCG documentation filing and tax payment coordination — so that closing day is procedural, not stressful. Contact us to discuss current inventory or to list your vessel.

Common Buyer Mistakes That Cost Money at Closing

Even experienced buyers working with a competent broker can run into avoidable costs if the transaction structure is not reviewed by a CPA or maritime attorney before execution. The three most frequent mistakes Moretti Yachts International sees in Fort Lauderdale closings:

Mistake 1: Assuming the seller’s tax-paid status transfers.

Florida sales tax is owed by the buyer at the time of purchase — it does not carry over from a previous transaction. A yacht that was properly taxed when the current owner bought it is not exempt when you purchase it. The tax is levied on each transaction.

Mistake 2: Closing before the USCG abstract is clean.

Buyers who close in a hurry — particularly around FLIBS or Miami International Boat Show timing — sometimes accept a title company’s verbal assurance rather than a reviewed abstract. The USCG National Vessel Documentation Center’s processing queue can run 4-6 weeks for new applications; buyers should plan the closing timeline accordingly and not close until the preferred ship mortgage release (if applicable) is confirmed recorded.

Mistake 3: Failing to document the delivery location.

When a transaction involves a vessel delivered outside of Florida to take advantage of the 90-day exemption, the delivery documentation must be airtight. A marina invoice, fuel receipt, and CBP clearance stamp from a Bahamian port of entry, dated within 90 days of the purchase date, are the documentary standard. Vague oral testimony about “being in Nassau” is not sufficient if the Florida DOR ever audits the transaction.

Proper pre-close planning — an hour with a Florida maritime attorney — costs $300–$500 and eliminates all three of these exposures on a high-value transaction.