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Florida yacht tax cap gains another ally - Trade Only Today

Florida yacht tax cap gains another ally

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Legislation to cap Florida's sales tax on yachts at $18,000 is working its way through the legislature.

The legislation is touted as a means to boost the boatbuilding business and cut into the state's 12.2 percent unemployment rate.

Having passed the House and up for possible debate in the Senate, the legislation prompted a meeting last week between the South Florida Sun Sentinel editorial board with members of the Florida Yacht Brokers Association and the Marine Industries Association of South Florida.

On Monday, the newspaper posted an editorial supporting the bill.

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