|Florida Boat Sales-Use Tax Cap Signed|
FORT LAUDERDALE, FL – JUNE 1, 2010...
Florida Governor Charlie Crist signed the larger Jobs for Florida Bill, CS/SB-1752, which contains the Florida Boat Sales-Use Tax Cap legislation on May 28, 2010.
The $18,000 Boat Sales and Use Tax Cap will take effect on July 1, 2010, effectively bringing Florida's yacht brokers into parity with their competitors in
other states and nearby countries, where sales taxes on yachts have been far lower.
The Boat Sales-Use Tax Cap limits the 6-percent Florida state sales tax on a boat purchase or the use tax for currently owned vessels to $18,000, helping Florida save marine industry jobs and, ultimately, increase sales tax revenue. Florida has been losing yacht sales and service business and revenue to other states and countries that offered more favorable sales tax treatment. Passage of the cap is expected almost immediately to begin invigorating Florida's vital marine industry by helping to stimulate yacht sales and encourage yacht buyers and current owners to register, keep and use their yachts in the state.
John DeCaro said, "At All Ocean Yachts are very pleased to see the state of Florida make this positive step toward being more competitive in the explorer yacht market. We expect this measure will stimulate both foreign and domestic buyers in the expedition yacht maket place".
For additional information contact:
John S. DeCaro
All Ocean Yachts 90
|Broker John DeCaro|
|Fort Lauderdale, FL 33316 USA|
|Bahia Mar Yachting Center|
|801 Seabreeze Blvd.|