The larger jobs for Florida bill takes effect today, and places an $18,000 cap on the sales tax on boat purchases. Signed into law by Florida Governor Charlie Crist, the change is being hailed as a victory by the marine industry. Florida businesses have been losing sales to other states and foreign countries with a lower sales taxes.
“With the passage of this bill, Florida will once again become a popular place to purchase a vessel, especially for those contemplating purchases over $300,000,” says Frank Herold, executive director of the Marine Industries Association of South Florida.
Florida Yacht sales have already seen a boom in anticipation of July 1.
“This will make it simpler to buy and sell a boat in Florida,” says South Florida Yachts broker John Gouldson. “I’ve already seen positive feedback in the last few weeks, it’s such a good thing for the industry.”