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Florida Sales Tax Proposal - Yachts

Discussion in 'YachtForums Yacht Club' started by K1W1, Apr 21, 2009.

  1. K1W1, Apr 21, 2009
    #1
    K1W1

    K1W1 Senior Member

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  2. Ken Bracewell, Apr 21, 2009
    #2
    Ken Bracewell

    Ken Bracewell Senior Member

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    That's interesting. I can't see where boats have anything to do with magazines or bottled water.

    My guess is that there are very few boat valued at greater than $300,000 which are tax-paid in FL. As a result, many of them end up avoiding FL for a 6month period after their purchase (I think this only happens once) in order to avoid the sale being taxable.

    This would allow large yachts the ability to charter in FL as the current fear of taxation prevents this from happening; under the current laws state sales tax must be before the boat can be purchased within the state. I have had to turn down charters for the past two FL Super Bowls because of this.
  3. Pascal, Apr 21, 2009
    #3
    Pascal

    Pascal Senior Member

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    actually, out of state boats cannot stay in florida more than 180 days a year or else they can be subject to the sales and use tax. Still much better that taxaschussets 60 consecutive day limit...
  4. YachtForums, Apr 21, 2009
    #4
    YachtForums

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    Here's an exert, sent to me by Capt. John Wampler. I'm posting it here for reference and also because the Miami Herald link will be discontinued in time.

  5. YachtForums, Apr 21, 2009
    #5
    YachtForums

    YachtForums Administrator

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    K1W1,

    I changed the name of the thread for better indexing to... "Florida Sales Tax Proposal - Yachts"

    Thanks for posting!
  6. yachtbrokerguy, Apr 21, 2009
    #6
    yachtbrokerguy

    yachtbrokerguy Guest

    This proposal is called the MARITIME FULL EMPLOYMENT ACT and was proposed to help keep boatyards and marine service contractors in business.
    Take a walk through any marina in Florida and many of the boats over 40 feet are registered in other states, and over 60 feet, many are registered in other countries.
    The original bill was to cap the tax at $25,000 but it was lowered to make the tax more competative with foreign flagging. With a maximum $18,000 tax many, many, many yachts will get a US flag in Florida insted of foreign flags.

    What many lawmakers do not understand is that it is better to get a maximun of $18,000 for Florida tax than 0% of foreign flag yachts
  7. SeaEric, Apr 21, 2009
    #7
    SeaEric

    SeaEric YF Historian

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    There has been no greater invention, to facilitate the transfer of wealth from the rich to the working class, than the yacht.