STATEWIDE — Boaters have lived without a federal luxury tax for new vessel purchases for almost 25 years now. But just because you do not have to fork over a hefty fee to the feds whenever you buy a
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4 Responses
Great story! Thanks for Mr. Rohit’s deep look into a topic that boaters may not always understand. Another concern is the deduction allowed for interest on a boat loan. In 1984, BoatU.S. first argued that recreational boats should be treated under the tax code the same way as second homes and recreational vehicles, convincing Congress to retain the IRS interest deduction for boat loans. Over the years, the issue has risen again but with boat owners speaking up, we’ve been able to stop such legislation.
Thanks again, Mr. Rohit!
Factually inaccurate about when CA started doing property tax assessment. When one fact is wrong, I always believe all the others are as well.
My wife and I are looking at a 1968 house boat this Sunday
You are better off locking yourself in a small closet and taking a club to your skull, on a daily basis