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Florida boat tax cap heads to governor’s desk - Trade Only Today

Florida boat tax cap heads to governor’s desk

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A tax cap on boat sales passed the Florida state legislature last week as part of the larger Jobs for Florida Bill, and now moves on to Gov. Charlie Crist, who voiced his support Friday for the bill.

"The $18,000 boat sales tax cap has achieved a major milestone by passing both the Florida State House and Senate. Now it's all up to the governor," said Jeff Erdmann, president of Bollman Yachts of Fort Lauderdale and a member of the Florida Yacht Brokers Association's legislative committee, which has been spearheading efforts, along with its partner, Marine Industries Association of South Florida's government relations committee, to pass the legislation.

Florida has been losing boat sales and service revenue to other states and countries that offer more favorable sales tax treatment, the industry groups said in a statement. The boat sales tax cap limits the 6 percent Florida state sales tax on a boat purchase to $18,000.

"Florida, always a popular place to purchase a vessel, immediately becomes more attractive for those contemplating purchases over $300,000 with the boat sales tax cap passed at the very end of the 2010 legislative session and now awaiting Gov. Charlie Crist's signature," MIASF executive director Frank Herhold said. "Our bill is an important part of the Jobs for Florida economic development package and will serve as a Florida marine industry economic stimuli initiative."

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