Weekly 5: Maryland debates capping boat tax
February 26, 2013
Filed under Weekly 5
The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. Maryland debates capping boat tax
A proposal in Maryland would cap the state’s vessel excise tax, a move proponents say would increase state revenue.
Under the bill introduced by state Sen. John Astle, D-Annapolis, the tax would be limited to $10,000 per boat. Supporters of the bill said it would boost the state’s boating industry, resulting in more jobs and more revenue.
Currently, many purchase their vessels in neighboring states with no or lower taxes, Astle said. A similar move in Florida in 2010 resulted in millions of dollars in additional tax revenue.
Opponents of the move say it would not generate enough additional sales to make up for the lower tax.
2. NMMA, MRAA support E15 bill
The marine industry is lending their support to a bill to rescind the ethanol waivers issued by the Environmental Protection Agency that allows E15 to be sold in the United States.
The National Marine Manufacturers Association and the Marine Retailers Association of the Americas are among several associations signing a letter of support to senators Roger Wicker and David Vitters supporting the legislation introduced last week.
3. Myths about the Affordable Care Act
The Small Business Administration has launched a new series, aimed at debunking myths about the Affordable Care Act (a.k.a. “Obamacare”).
Myth No. 1: All businesses will be required to provide health insurance to all of their employees.
4. Lower Lake Michigan levels could have big impact on boating
Water levels in Lake Michigan are down more than 5 feet since 1997 and 17 inches since last summer, according to a new study.
That means big challenges for boaters this summer as boat launch access could be limited and swimmers could be venturing into higher-traffic areas, Jon Shabica of Shabica & Associates said.
5. How to use hashtags in your social media
Wondering about all those hashtags (#) showing up on Twitter and elsewhere? Not sure how to use them? Social Media Examiner offers four tips on how to use hashtags most effectively use – and when not to use them.