Special Tax break for buying yachts over $250K

Discussion in 'News / Current Events' started by billwald, May 3, 2011.

  1. billwald

    billwald
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  2. Earth Wind and Fire

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  3. annsni

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    Shoot! We bought our boat too early - and for too little money!! LOL

    I GUESS they are thinking that maybe it's better to encourage them to spend more money to build the economy?? Who knows.
     
  4. billwald

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    Most of the yachts are built off shore. Pun intended.
     
  5. targus

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    What does that have to do with the discussion?

    Your article and your OP are about SALES TAXES.
     
  6. annsni

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    The mega yachts are built off shore but there are MANY American made yachts that are smaller and built here in the states. We own a Catalina sailboat and brand new, it is over $250,000 - and it's made in California (if I remember correctly). I know many other sailboat companies are in the US as well and run in a similar price range for the size boat we have.
     
  7. preachinjesus

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    I hear the best breaks for yachts is for those living in Montana, North Dakota, and Iowa...

    Also when you spend over $500k...they throw in a free mini-sub...

    Just saying, if you have to ask, you probably can't afford it. :D
     
  8. annsni

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    Awww man!! We just needed a bit more money and my son could have had a mini-sub? That stinks. :laugh:
     
  9. billwald

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    >What does that have to do with the discussion?

    Post 5 is in response to post 3. Amazing you didn't notice.
     
  10. targus

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    You were the first to change the discussion to where a boat is built - when the topic is sales taxes on where it is bought.

    Amazing you still don't notice.

    Buying in a State that gives a break on sales tax increases the local economy.

    Boat dealers sell more products and services and hire more employees.

    It's quite simple.
     
  11. JohnDeereFan

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  12. billwald

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    Responding to post 10, you would remove all sales taxes to improve the economy? Or suggest an optimum sales tax and/or a means to replace the tax revenue.

    Washington State has no income tax and runs on sales tax, property tax, and business taxes and fees. We are are 13
    in per capita income ($42,857 in '08)

    http://www.census.gov/compendia/statab/2011/ranks/rank29.htm

    Washington State Tax Rate: 6.50% Average Local
    Tax Rate: 2.14% Total Rate: 8.64% Rank: 5

    http://www.taxfoundation.org/publications/show/27023.html

    We are said to have a very regressive tax structure and high taxes but still are 13th in personal income. Here is a slightly different (more recent) ranking:

    http://bber.unm.edu/econ/us-pci.htm

    We are 10th in GDP per capita at $52,403.

    http://en.wikipedia.org/wiki/List_of_U.S._states_by_GDP

    All things considered, I am happy with WA's tax structure.

    Oregon and Washington are very comparable in all ways but tax structure. Oregon has an income tax but no sales tax with a per capita GDP of $44,447 and a state ranking of 27th. Oregon per capita personal income $37,095 Ranking 30

    http://bber.unm.edu/econ/us-pci.htm

    I would be very happy to eliminate all income taxes and go to a national sales tax (even the so-called fair tax) IF there was graduated national estate tax with, say, $4 million exempt ( one wife, three kids getting enough to live on) starting at 20% up to 100% tax over $50 million.
     
  13. Chessic

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    Got a great deal on a yacht in Colorado, and it's a blast to cruise down the narrow canyons in it. The sub I sold to a rancher in Wyoming...something about spying on his cattle....
     

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