Understanding Your Yacht Import Duties

Few things are as exciting as purchasing a Yacht, and it is something that a growing number of people are doing each year. For many, it makes sense to purchase the vessel outside of the United States due to market supply, price, personal residence, and more. When importing a yacht or other pleasure watercraft, however, it is critical that you understand what import duties are, and how they will impact you.

What Are Import Duties?

An import duty is simply a tax that is collected on anything that is brought to the United States from outside of the country. Different imports have different duties, and are governed by different sets of laws. For yachts and other pleasure craft, the main law to be aware of is the Harmonized Tariff System (HTS). The duty on a yacht is going to be 1.5% of its value, though that number can change should congress decide to have it updated.

Other Potential Import Duties

When bringing a yacht to the United States, many people will have other imports on board. Anything that is not physically part of the yacht could be subject to additional import duties. Common items brought in on yachts include food, souvenirs, supplies, clothing, and more. While a small amount of these types of things may be allowed to pass through duty-free, it should be assumed that you will need to pay an import duty on everything on board.

How Are Duties Determined?

Whenever bringing a pleasure craft to the United States, it is a good idea to have a good estimate on how much you will need to pay. Working with an experienced customs brokerage company is the best way to ensure you have an accurate estimate. In all cases, however, the US Customs and Border Protection (CBP) agency is going to have the final say in determining the exact duty rate. Here at Howard S. Reeder, Inc, we have been working closely with the CBP for decades, and our yacht import duties are typically spot on, which is just one of the benefits of working with us.

Contact Us

If you are planning on importing a pleasure watercraft such as a yacht to the United States, make sure you contact usĀ right away. We will work with you to determine what exactly is being imported, what the estimated duties will be, and when you plan on arriving. From there, we can work with the CBP to help ensure everything is ready to go when you arrive in port.

Howard S Reeder Inc