In Florida, the administration of boat purchases and the associated sales and use tax is encapsulated within a document known as the DR-42B form, also titled "Ownership Declaration and Sales and Use Tax Report of Vessel Purchase." This particular form is essential for individuals who have recently purchased a vessel, including boats and watercraft, as it serves a dual purpose. Firstly, it declares the ownership of the vessel, providing vital details such as the name of the vessel, year, make, model, and the United States Coast Guard documentation or state registration number. Secondly, it meticulously calculates the sales and use tax due on the purchase within the state of Florida, highlighting the total purchase price, net purchase price after trade-ins, if applicable, and the balance of tax due after accountings, such as Florida tax paid or taxes lawfully imposed and paid to another state. Reporting requirements include the seller's information, the precise location where the vessel was delivered, and its current location, ensuring comprehensive documentation of the transaction. Importantly, the form mandates the inclusion of penalties for late submissions and interest calculations, underscoring the legal obligations of the new owner to abide by state tax laws. Compliance entails signing the document under penalty of perjury, affirming the truthfulness of the information provided, and necessitates the attachment of a bill of sale and other documentation that evidences ownership and the actual selling price before submission to the Department of Revenue. This form, revised in October 2010 and regulated under Rule 12A-1.097 of the Florida Administrative Code, underscores the state's commitment to ensuring tax compliance and maritime asset documentation in a clear, organized manner.
| Question | Answer |
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| Form Name | Form Dr 42B |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | form sop 42b, sop 42b form fillable, florida 42b form, sop42b |
Ownership Declaration and Sales and Use Tax
Report of Vessel Purchase
R. 10/10
Rule
Name of vessel |
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USCG documentation or state reg. no. |
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Name of purchaser |
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Florida sales tax registration number |
Daytime telephone number (include area code) |
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The vessel described above was purchased from (Name of seller, dealer, or broker) |
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Delivery was accepted at_________________________________________________on the________ day of __________________ 20________. |
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Name of marina, boat yard, etc. |
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Present location of vessel |
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Address |
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Indicate the total purchase price, including any unpaid balance due seller, bank, or inance company. Include the total |
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consideration valued in money, whether paid in money or otherwise. |
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Total purchase price |
$ _______________________________________________________ |
Less: |
$ _______________________________________________________ |
Net purchase price |
$ _______________________________________________________ |
Florida tax due (6%) |
$ _______________________________________________________ |
Florida discretionary sales surtax |
$ _______________________________________________________ |
Less: Florida tax paid (attach copy of receipt) |
$ _______________________________________________________ |
Less: Taxes lawfully imposed and paid to another state |
$ _______________________________________________________ |
(attach copy of receipt) |
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Balance due |
$ _______________________________________________________ |
Penalty (10% per month, up to 50%) |
$ _______________________________________________________ |
Interest |
$ _______________________________________________________ |
TOTAL DUE |
$ _______________________________________________________ |
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Under penalties of perjury, I declare that I have read the foregoing declaration and the facts stated in it are true. |
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Signature of Purchaser |
Date |
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You must attach a copy of the Bill of Sale and |
RETURN TO: |
other documentation which evidences ownership |
Department of Revenue |
and actual selling price. |
Compliance Campaigns |
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PO Box 6417 |
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Tallahassee, FL |