Skip to main content

Rhode Island debates lifting boat tax exemption

In response to legislation that has been introduced in Rhode Island to repeal the sales-tax exemption for boats, state Rep. Richard Morrison is stressing the importance of the boatbuilding industry to the state's economy and pledging to fight any attempts to repeal the exemption.

A bill recently introduced in the state Senate would extend the state sales tax to the sale, storage and use of new and used boats.

Morrison, whose district is home to several boatbuilding companies and marinas, said the proposed legislation would affect not only boatbuilders, but all marine businesses and every Rhode Islander.

"This bill destroys our state's boatbuilding and servicing industries, and it burdens every Rhode Island boat owner who enjoys our great waters. Also, there are countless boats kept in Rhode Island by out-of-state owners precisely because of the tax exemption," he wrote in a column.

"These owners support the local marinas where they dock and store their boats, as well as all of the various suppliers and services that surround the industry locally," he said. "Since the repeal of the sales tax for boats in 1992, millions of dollars have been pumped back into the state's economy. In these difficult fiscal times we cannot afford to throw away such a significant economic gain."

Morrison said he has met with General Assembly leadership to convey the importance of the sales tax exemption to the marine industry in Rhode Island and will make it a priority to ensure the exemption remains intact.

There are more than 2,300 marine-related businesses in Rhode Island and they employ more than 6,600 people.

Click here for the full article.

Related

1_TRAVELIFT.COOP

Marine Travelift Launches Co-op Program

The company received its first student, a University of Wisconsin engineering major, in the seven-month paid co-op.

1_JULY4

Trade Only Today Returns Tuesday

The e-newsletter will not publish July 4 in observance of Independence Day. We wish everyone a safe holiday weekend.

1_ORR.FUNDS

ORR Announces Federally Funded Projects

The U.S. Economic Development Administration prioritized outdoor recreation for the first time

Norm#4

Ten Ways To Sell in a Tough Economy

These keys to successful selling can help you create customers who keep coming back, even when sales dip

1_ASA.BOARD

ASA Names New Board Members

The American Sportfishing Association filled two at-large seats and two regional seats on its board of directors.

1_EXEC.SEARCH

Dammrich, Hopkinson Partner With Marine Resources Recruitment

The industry veterans will help clients fill executive-suite, marine industry job openings around the world.

1_PULSE.PING.0630

DEALERS: How Was Business in the First Half of 2022?

With the second quarter coming to a close, was there parity between the budget and financial performance in the first six months? Take the Pulse Report survey here.

1_PMMPODCAST

Passagemaker Relaunches Podcast

Trawler Talk aims to connect with those who are interested in the cruising lifestyle, with episodes dropping every other week