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Yacht Tax

April 15th, 2009 by Mike Vasilinda

Boats and airplanes purchased in Florida would be limited to no more than twenty five thousand dollars in sales taxes.

The idea is to attract the purchases of super yachts and planes, who will then be retrofitted in state facilities. Sponsor Tom Grady says it will create jobs the state is losing.

The universe of boats and planes that were looking for are boats and planes that are not here,” Grady said. “Theyre not in Florida. Theyre flagged in the Cayman Islands. Theyre flagged in the Bahamas. Theyre flagged in the Caribbean, somewhere. I want them flagged here. I want them to pay taxes here. I want them to employ people here. I want them to paint their boats here, fix their engines here. I want that all done here in Florida.

Other legislation would being considered would cut the state sales tax rate on planes to three percent.

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