Form Rv F1320101 PDF Details

The Tennessee Department of Revenue requires the RV-F1320101 form for reporting the casual or isolated sale of vessels or boats, a process that embodies the state's commitment to ensuring tax compliance within the recreational boating community. Both sellers and buyers need to provide detailed information including their names, addresses, and specifics about the boat such as make, model, hull identification number, and purchase date. This is crucial for accurately assessing and documenting the sales or use tax due on the transaction. The form meticulously breaks down the purchase price including the boat, motor, and trailer if applicable, trade-in allowances, and the taxable amounts, guiding taxpayers through a step-by-step calculation of state and local sales taxes, as well as any single article taxes due. Additionally, provisions are made for those who have paid sales or use tax in another state, with instructions for documenting this to potentially lower the tax due in Tennessee. The form also addresses special circumstances such as gifting and importing a boat as a new Tennessee resident, ensuring comprehensiveness. Not only does it serve as a critical tool for tax collection, but the RV-F1320101 form also reflects Tennessee’s legislative nuances around boat sales, spotlighting the intricacies of state tax law and its execution. This document also underscores the importance of accurate and honest reporting by both parties to fulfill their tax obligations, providing a clear pathway for compliance.

QuestionAnswer
Form NameForm Rv F1320101
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesf1303401winstrF ill in tn boad form

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SLS

953

VALIDATION NUMBER

 

 

TENNESSEE DEPARTMENT OF REVENUE

 

REPORT OF CASUAL OR ISOLATED SALE OF VESSEL OR BOAT

New Owner’s First Name

Middle Initial

Last Name

Previous Owner’s First Name

Middle Initial

Last Name

Street Address

Street Address

City

State

Zip Code

City

State

Zip Code

Date

Make of Boat

 

Model

 

Hull ID#

 

Year

 

Body Style

 

 

Open

 

Length

Current No.

Acquired

(MFG)

 

 

 

 

 

 

Built

 

 

 

 

Cabin

 

 

House

 

 

on Boat

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Personal Watercraft

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1. Purchase Price of Boat, Motor,

2. Trade-in Allowance

3. Taxable Amount

 

4. Taxable Amount of Boat/Motor

 

5. Taxable Amount of Trailer

and Trailer (Attach Bill of Sale)

(* Enter

below)

 

 

 

 

 

 

 

(**See Line 6)

 

 

 

 

(***See Line 9)

$

 

 

$

 

 

 

$

 

 

$

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6. State Sales or Use Tax Due on Boat and Motor (Amount in Line 4 multiplied by state rate. ** If purchase price

 

 

 

 

 

 

of boat, motor, and trailer is one amount, use 90% of Line 3 for boat and motor purchase price. )

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7. Local Sales or Use Tax Due on Boat and Motor (Up to $1,600 of amount in Line 4 multiplied by local rate.

 

 

 

 

 

 

Local tax capped at $1,600 on each single article.)

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8. State Single Article Tax Due on Boat and Motor (Multiply portion of amount in Line 4 between $1,600 and

 

 

 

 

 

 

$3,200 by 2.75%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9. State Sales or Use Tax Due on Trailer (Amount in Line 5 multiplied by state rate. *** If purchase price of boat,

 

 

 

 

 

 

motor, and trailer is one amount, use 10% of Line 3 for trailer purchase price.)

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10. Local Sales or Use Tax Due on Trailer (Up to $1,600 of amount in Line 5 multiplied by local rate. Local tax

 

 

 

 

 

 

capped at $1,600 on each single article.)

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11. State Single Article Tax Due on Trailer (Multiply portion of amount in Line 5 between $1,600 and

 

 

 

 

 

 

$3,200 by 2.75%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12.Sales or Use Tax Paid in State of __________________________ (Documentation must be attached)

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13. Tax Due (Lines 6 - 11 less Line 12): $

14. Clerk’s Fee: $

15. Total Due (Lines 13 and 14): $

County Clerk - If no tax due, mark specific explanation. Must attach any required information.

*Trade-in - Enter year, make, model, and hull or VIN#

Gift (Attach affidavit)

New Tennessee Resident - NOT EXEMPT. Must pay tax on Fair Market Value less tax paid in other state. Complete Line 12.

Resale - Enter Sales Tax Account Number

Other (Attach documentation)

I certify that tax is paid on total consideration of boat, motor and trailer.

Signature of New Owner:

Date:

Signature certifies that taxpayer has paid tax on the sales price as required by Tenn. Code Ann. Section 67-6-406.

Name of County Clerk:

Name of County:

No.

Signature:

 

Title:

RV-F1320101

Original Form - Department of Revenue

First Copy - Boat Owner

Second Copy - County Clerk

INTERNET (10-08)

INSTRUCTIONS FOR FORM SLS953 - REPORT OF CASUAL OR ISOLATED SALE OF VESSEL OR BOAT

Note: Information required on this form must be complete. Please print all entries.

PURCHASER AND SELLER INFORMATION:

(1)Enter the full names of both the purchaser and the seller. In the event of joint registration, enter both registrants’ names.

(2)Enter the street addresses of both the purchaser and the seller. Do not enter post office boxes.

(3)Enter the city, state, and zip codes of both the purchaser and the seller.

BOAT IDENTIFICATION INFORMATION:

Enter the date the purchaser acquired the boat/trailer, the make of boat, the model, the hull identification number, the year built, the body style, the length, and any current number of the boat in the fields provided. This information must be complete and accurate.

TAX CALCULATION:

Item 1: Enter the full purchase price of the three items (boat, motor, and trailer) and attach the bill of sale. If no bill of sale is available, use the N.A.D.A. fair market value of the boat, motor, and trailer. The purchaser may also obtain an appraisal from a reputable boat dealer. Item 2: Enter the documented trade-in-allowance. If the trade-in is not documented, none will be allowed. Please note the trade-in must be identified in the lower portion of this document.

Item 3: Subtract the amount in Item 2 from the amount in Item 1. Enter the amount here.

Item 4: Enter the taxable amount of the boat and motor. If the boat, motor, and trailer had a single purchase price, use 90% of the Item 3 amount.

Item 5: Enter the taxable amount of the trailer. If the boat, motor, and trailer had a single purchase price, use 10% of the Item 3 amount.

Item 6: Calculate the state sales or use tax on the combined value of the boat and motor, as shown in Item 4.

Item 7: Calculate the local sales or use tax rate on the first $1,600 of the combined value of the boat and motor. Use the local tax rate in effect in the purchaser’s home county.

Item 8: Calculate the state single article tax of 2.75% on any portion of the combined value of the boat and motor beginning with $1,600.01 up to $3,200.

Item 9: Calculate the state sales tax on the value of the trailer, as shown on Line 5.

Item 10: Calculate the local sales or use tax rate on the first $1,600 of the value of the trailer. Use the local tax rate in effect in the purchaser’s home county.

Item 11: Calculate the state single article tax of 2.75% on any portion of the value of the trailer beginning with $1600.01 up to $3200.

Item 12: Enter the amount of sales or use tax paid on the boat, motor, and trailer in the prior state of residence and the name of the state where the tax was paid. Tax paid in another state must be documented.

Item 13: Enter the total tax due. Add Lines 6 – 11 and subtract Line 12.

Item 14: Enter the appropriate clerk’s fee.

Item 15: Enter the total tax and clerk’s fee. This is the amount to be collected from the customer.

COUNTY CLERK INFORMATION:

Trade-in: Completely identify and describe the boat, motor, and trailer for which a trade-in allowance was entered in Item 2.

Gift: Gifts between lineal relatives are exempt from sales and use tax. Gifts between other entities must be completely free of consideration (monetary or tangible), services provided, etc., to be exempt from sales and use tax. Clerks must require an affidavit from the donor (prior owner) affirming that no consideration was given and explaining why the boat, motor, and trailer are being given away. Questionable gifts

may be reviewed by the Department of Revenue, and the owner may be contacted for confirmation.

Important Information on New Tennessee Residents Importing a Boat, Motor, and Trailer: The boat, motor, and trailer are tangible personal property subject to use tax on the fair market value at the time of importation under Tenn. Code Ann. Section 67-6-203. Trailers are included under Tenn. Code Ann Section 67-6-102(6)(C). The fair market value may be established by N.A.D.A. or appraisal by a reputable dealer. One hundred percent of documented sales tax paid to the state of origin may be given in Line 12. Title and registration in the prior state does not establish the basis for giving the credit unless the amount of tax paid is shown. Also, there is no time element of ownership in the other state that will create an exemption from Tennessee use tax.

Resale: A dealer in Tennessee may register a boat on temporary basis for demonstration under a TWRA permit. Enter the sales tax number of the dealer. This cannot be used for registration in other than the business name.

Other: If the transaction or importation does not fall into any of the other categories given, explain here and attach documentation.

Signature of New Owner and County Clerk Information: Please obtain the signature of the new owner and fill in the fields as indicated. Three copies of this form are needed - one for the county clerk, one for the owner, and one copy for the Tennessee Department of Revenue.

County Clerks: Please refer to Tenn. Code Ann. Section 67-6-406, which establishes responsibility for effective administration of sales and use tax on boat transactions. For assistance, call the Taxpayer Services Division at (615) 253-0600 or toll-free

(800) 342-1003.

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Guidelines on how to prepare Form Rv F1320101 step 1

2. Once your current task is complete, take the next step – fill out all of these fields - Local Sales or Use Tax Due on Boat, State Single Article Tax Due on, State Sales or Use Tax Due on, Local Sales or Use Tax Due on, State Single Article Tax Due on, Sales or Use Tax Paid in State of, Tax Due Lines less Line, Clerks Fee, Total Due Lines and, County Clerk If no tax due mark, Tradein Enter year make model and, Gift Attach affidavit, New Tennessee Resident NOT EXEMPT, Resale Enter Sales Tax Account, and Other Attach documentation with their corresponding information. Make sure to double check that everything has been entered correctly before continuing!

The right way to prepare Form Rv F1320101 step 2

Be very mindful while completing State Single Article Tax Due on and Resale Enter Sales Tax Account, as this is the part in which most users make a few mistakes.

3. This 3rd part is considered relatively straightforward, Signature of New Owner Date, Name of County Clerk, Name of County, Signature, Title, RVF, Original Form Department of, First Copy Boat Owner, Second Copy County Clerk, and INTERNET - all these empty fields will need to be filled in here.

The best way to prepare Form Rv F1320101 stage 3

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