Additional proposed taxes on Connecticut recreational boaters could be enough to drive them to Rhode Island, according to an article in the Hartford Courant.
The proposal raises sales tax on boats from 6 to 6.35 percent and puts a new tax on labor, boat storage and other services. The sales tax trade-in allowance on new and used boat purchases could be eliminated and there’s the possibility of a 3 percent sales surcharge on the value of vessels that cost more than $100,000.
Boat owners and industry people interviewed said Connecticut business could likely migrate to Rhode Island, which has a more favorable tax situation for boaters.
To read the article, go to: Proposed Tax Changes Put Squeeze On Boat Industry