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Committee approves shifting boat sales-tax collection to vehicle-registration process
Summary
Senate Bill 638 would shift collection of sales tax on new and used motorboats from the point of sale at dealerships to the Department of Finance and Administration when buyers register their vessels.
Senate Bill 638, presented by Senator Justin Boyd and Representative Jamie Lee Johnson, was approved by the Senate Revenue & Tax Committee. The bill moves the point of sales-tax collection for new and used motorboats sold by motorboat dealerships from the dealer at point of sale to the Department of Finance and Administration (DFA) at the time the buyer registers the vessel.
Representative Jamie Lee Johnson told the committee the measure was intended to create parity between motor vehicles and motorboats in sales-tax collection. "We finally got a version of this where it's revenue neutral," Johnson said, adding…
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