Connecticut cuts luxury tax on boats

Published On: September 1, 2013Categories: Industry News

Connecticut lawmakers have repealed the .65 percent luxury tax on boats costing more than $100,000, which was imposed in 2011. The measure is one of several “major wins” for the state’s marine industry that were accomplished through the efforts of the Connecticut Marine Trades Association, NMMA and others. Another measure allows boats to remain in the state for up to 60 days with no sales or use tax liability. This extends by two months the state sales and use tax exemption for winter storage and streamlines the application process for the Clean Marinas program.