If You Live On Board, Do You Have To Pay Taxes?
Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q. Can I live on a yacht and not pay property tax in the U.S.? A. Those always at sea may be able to avoid property taxes, according to J. Dirk Schwenk, a managing member at Baylaw, a law firm based in Annapolis, Maryland. “If you really are in motion all the time—touching in ports, but not staying very long—you’re much less likely to be subject to tax as you go,” he said. But most people have to keep the yacht somewhere.…
