New Sales Tax Break for Florida Mariners 

          Florida’s $13.6 billion marine industry is getting a boost. This is thanks to a new law that caps Florida’s boat sales tax at $18,000.

          This law will soon create and increase business for the Florida marine industry.  Currently, over 63% of boats sold by brokers in Florida do not close or register in the state. The culprit behind this statistic is our six percent sales tax.  By installing this new tax cap, vessels will be encouraged to stay in Florida after purchase. They will then make use of our refitting, servicing and provisioning businesses. 

          A big thanks for this law is owed to the Florida Yacht Brokers Association. They along with the 800-member Fort Lauderdale trade group and several state legislators lobbied for the passage of this law.

          Passed as part of the larger Jobs for Florida bill, the new tax became law on July 1^st.