Originally Posted by Dulcesuenos
I wish they would make this a cap per person per lifetime, not per boat.
Well, THAT'S not going to happen! If it were a per person cap then multimillionaires would be able to buy another mega-yacht every other year and never pay anymore sales tax. The cap already makes it a seriously regressive tax, as it is. Making it a per person cap would only further penalize those who buy less expensive boats.
Right now, if you buy a yacht for a million dollars in Florida, you will pay less than 2% in sales tax. If you buy a boat for anything under $300k, on the other hand, you pay the full 6%. How is that fair!?! What they OUGHT to be doing, instead of capping the sales tax, is exempting the first $100k from any tax. That way those of us with meager budgets would get the benefit, instead of most of the benefit going to the very rich, as it is now.
Oh, and by the way, you don't necessarily have to pay sales/use tax if you bring your boat to Florida. If you have used your boat for more than 6 months, elsewhere in the United States, then you owe no sales or use tax when you bring it to Florida.