The Boat Sales Tax Cap passed the Florida State Legislature as part of the larger Jobs for Florida Bill, CS/SB-1752, on Friday, April 30, 2010 – the last day of the Legislature’s current session. It now moves on to Governor Charlie Crist, who voiced his support for the Florida Jobs Bill on Friday. It’s not known at this point exactly when CS/SB-1752 will land on Gov. Crist’s desk; he will have 15 days from the time he receives it to sign it into law, which would take effect on July 1, 2010.
“The $18,000 Boat Sales Tax Cap has achieved a major milestone by passing both the Florida State House and Senate. Now it’s all up to the Governor,” said Jeff Erdmann, President of Bollman Yachts of Fort Lauderdale and a member of the Florida Yacht Brokers Association (FYBA) Legislative Committee, which has been spearheading efforts, along with its partner, Marine Industries Association of South Florida (MIASF) Government Relations Committee, to pass this landmark legislation.
“We’re almost there,” said Cromwell Littlejohn, President of FYBA. “We want to thank all those who heeded our Call to Action and wrote their State Legislators in support of this measure. Your efforts have paid off.” Littlejohn urged FYBA members and marine industry professionals throughout the state of Florida to write Governor Crist in support of the bill.
Florida has been losing boat sales and service revenue to other states and countries who offer more favorable sales tax treatment. The Boat Sales Tax Cap limits the 6-percent Florida state sales tax on a boat purchase to $18,000, helping Florida to save marine industry jobs and, ultimately, increase sales tax revenue.
MIASF Executive Director Frank Herhold commented, “Florida, always a popular place to purchase a vessel, immediately becomes more attractive for those contemplating purchases over $300,000 with the Boat Sales Tax Cap passed at the very end of the 2010 Legislative Session and now awaiting Governor Charlie Crist’s signature. Our bill is an important part of the Jobs for Florida economic development package and will serve as a Florida marine industry economic stimuli initiative.”
Florida Yacht Brokers Association
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