New York is cresting its sales tax on yachts in a bid to lure back business from Florida and other locales that charge less. But the yacht brokers of Florida said that they are not really worried that the move would cost Sunshine State much.
This is because Florida has a grand lead over New York in yacht sales, as well as many New Yorkers bring their boats to Florida for the winter. So, even if New York picks up some extra sales, those owners probably will spend money at Florida’s marinas, repair yards and other services.
Jeff Erdmann, the chairman of Florida Yacht Brokers Association that pushed Florida’s tax cut on yacht sales in the year 2010, told that they would not lose many sales to New York in the grand scheme. They still have the better weather. Continue reading “New York caps off sales tax on yachts to go one on one with Florida”