Washington state changes boat taxes
The Washington state legislature recently passed a new Marine Tourism law that lowers taxes for non-resident vessels. According to the website YachtLaw.com: "Effective September 1st, under this new law, non-resident entity-owned yachts will be able to stay in Washington for up to 180 days in any 365-day period without the need to pay the one-time use tax or annual registration fees. The savings from this exemption are significant since combined taxes and fees can total 10 percent of the value of a boat."
Don Kohlmann, sales manager for Nordhavn Yachts Northwest, said the change was a big plus for the yacht business in Washington. "For many years the state has had a hostile reputation regarding larger yachts in particular. That reputation discouraged owners from bringing their boats and the attendant service business into the state."
The new stance should help improve service revenue from larger yachts visiting the state.