Great News: That New Yacht Is Not Gonna Cost As Much As You Originally Thought
Now you can go ahead and spring for the one with the replica of Monaco attached to the top and feel frugal at the same time.
A measure in New York’s state budget would exempt very expensive boats from sales tax, under an agreed-upon budget bill printed over the weekend. The so-called “yacht credit” has not been part of the budget discussion this year, but it appeared quietly over the weekend in a revenue bill, under section SS, that would exempt any portion of the purchase of a boat above $230,000 from sales tax.
Budget includes sales-tax carveout for yachts [CapitalNY]
Shopping for Yacht? New York Budget Offers a Tax Break [NYT]