CT Proposes Boating Tax Increases

SoundingsTradeOnly.com: When Connecticut Gov. Dannel Malloy’s budget proposal was unveiled Tuesday, it called for removing 4 marine-related tax exemptions from the state’s 6 percent sales tax.

Grant Westerson, executive director of the Connecticut Marine Trades Association, told Soundings Trade Only that the net result would be another blow to the state’s struggling industry and, in the end, a losing financial proposition for the state. Westerson said the sales tax exemptions to be eliminated include:

  • Winter storage fees
  • Labor fees on maintenance and repairs
  • Brokerage commissions
  • Credit for trade-in values

Read the full article:

Trade Only Today

How do you feel about the proposed tax hike?

If it goes into affect will you be changing anything you do? Please comment below.