(NYS) Budget includes sales-tax carveout for yachts

http://www.capitalnewyork.com/article/albany/2015/03/8565085/budget-includes-sales-tax-carveout-yachts

ALBANY—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.

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“We could not agree on property tax relief for struggling homeowners but somehow we can agree that people who are purchasing yachts shouldn’t have to pay sales tax in New York," Deutsch said. "I wasn’t aware that there was a huge yacht lobby that was pushing for this. This really kind of seemed to come out of nowhere, and I’m surprised to see it in the final revenue bill."