Luxury Tax On Yachts

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luxury tax on yachts

Emmanuel Macron To Introduce New Tax On Expensive

new luxury tax trimming boat sales the luxury tax which began jan 1 is applied to that part of a new boats sale price over 100000 the national marine manufacturers association the industry trade group estimates that from 10000 to 15000 boats nationally will be subject to the tax, just now the tax varies on the county that the boat is in the tax is usually somewhere between 1125 of the selling price of the boat if no price is established then the assessor may use the nada price guide for a value to go by the tax will come as a property tax assessment and not a luxury tax

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the yacht costs 2995000 but thanks to the current luxury tax that kicks in at 100000 you have to fork over another 289500 rich people arent happy about paying this extra money even if , there is no federal vessel tax and may the federal luxury tax stay good and dead so taxes are imposed at the state and local levels generally there are three taxes of concern to boat owners sales tax use or registration tax and personal property tax sales tax is imposed if at all at the time of purchase, the luxury tax on yachts requires boat buyers to pay a 10 extra federal sales tax on that part of the purchase over 100000 but boat sales dropped sharply and revenues from the levy have been , when congress imposed a 10 percent luxury tax on yachts private airplanes and expensive automobiles sen ted kennedy and thensenate majority leader george mitchell crowed publicly about how the

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