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Special Tax break for buying yachts over $250K

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

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  1. billwald

    billwald New Member

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    #1 billwald, May 3, 2011
  2. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    #2 Earth Wind and Fire, May 3, 2011
  3. annsni

    annsni Well-Known Member
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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.
     
    #3 annsni, May 3, 2011
  4. billwald

    billwald New Member

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    Most of the yachts are built off shore. Pun intended.
     
    #4 billwald, May 3, 2011
  5. targus

    targus New Member

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    What does that have to do with the discussion?

    Your article and your OP are about SALES TAXES.
     
    #5 targus, May 4, 2011
  6. annsni

    annsni Well-Known Member
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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.
     
    #6 annsni, May 4, 2011
  7. preachinjesus

    preachinjesus Well-Known Member
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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
     
    #7 preachinjesus, May 4, 2011
  8. annsni

    annsni Well-Known Member
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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:
     
    #8 annsni, May 4, 2011
  9. billwald

    billwald New Member

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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.
     
    #9 billwald, May 4, 2011
  10. targus

    targus New Member

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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.
     
    #10 targus, May 4, 2011
  11. JohnDeereFan

    JohnDeereFan Well-Known Member
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    #11 JohnDeereFan, May 4, 2011
  12. billwald

    billwald New Member

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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.
     
    #12 billwald, May 4, 2011
  13. Chessic

    Chessic New Member

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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....
     
    #13 Chessic, May 7, 2011
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