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Vessel excise tax impacting Maryland boat biz

Monday, August 6, 2012   (0 Comments)
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Recreational marine businesses in Maryland are lobbying for a change in the state’s tax policy. Currently, a state excise tax requires boat owners to pay five percent of the value of their boat if they stay in the state more than 90 days during a given year. Representatives from the state’s boating industry suggest that the tax is driving boaters away, resulting in lost business and a recent decline in state boat registrations. Click here to read a CapitalGazette.com article on this issue, entitled "With industry sinking, boating advocates search for tax relief.”