Connecticut luxury boat tax repealed
By Jonathan Sweet
June 24, 2013
Filed under News
As part of a package of tax reforms, Connecticut Gov. Daniel Malloy has signed a bill eliminating the state’s luxury tax on boats.
The change is one of several “major wins” for Connecticut’s marine industry, the Connecticut Marine Trades Association said in a message to its members.
Public Act 13-184 repeals the 0.65 percent tax that was imposed on vessels of more than $100,000 in 2011. Also included in the tax and budget package was a provision that allows boats to be in the state for up to 60 days with no sales or use tax liability.
Other key victories for the industry, as reported by the association and it’s lobbying firm, The Kowalski Group:
- Sales and use tax exemption for winter storage was extended by two months
- A streamlined process for rebuilding and protecting shoreline property after major storms was passed
- A bill was passed to streamline the application process for the Clean Marinas program