If you haven’t already submitted comments to your legislators to Vote No regarding the proposed added luxury tax on boats purchased in Washington State, you are reminded to please do so.
NMTA (Northwest Marine Trade Assoc.) has responded to this tax proposal by bringing together a coalition of partners in the boating industry, including boat brokers, boat manufacturers, boat supply retailers, and organizations like RBAW (Recreational Boating Assoc. of WA) and nautical publications like Waggoner and others.
As noted by NMTA, the historical and economic impacts of such a tax outweigh the assumed revenue. NMTA reports that “Looking back at the U.S. experience with a luxury tax on yachts in 1991, we see a stark warning. The 10% tax imposed led to a staggering 77% drop in yacht sales within just one year. This dramatic decline resulted in the loss of over 25,000 jobs across the boat manufacturing, maintenance, and marina industries as businesses struggled to cope with the decreased demand. The tax was ultimately repealed in 1993, as the economic damage became too pronounced to ignore.”
“Similarly, Canada’s recent luxury tax on boats, which began in September 2022, has also proven detrimental. Boating BC surveyed dealers and manufacturers regarding the impacts resulting from the federal government’s luxury tax. The yearlong survey shows a loss of more than $211 million (CAD) and an approximately 85% decrease in new boat sales.”
Boaters already pay an annual value-based excise tax on their watercraft in Washington State. To read the suggested message to send your legislators as provided by NMTA, click HERE. We must keep the pressure on Olympia to protect and sustain the boating industry in our State. You can find your senator and representatives based on your address HERE.
Notifications regarding SB 5801 proposed boat luxury tax have been published in special editions of Waggoner eNews; RBAW Newsletter; NMTA’s WaterLife News; and NMMA (National Marine Manufacturers Assoc.) Currents Newsletter. NMTA lobbyists Roman Daniels-Brown and Jay Balasbas along with Jay Jennings, VP Dir. Of Government Affairs, invite marine businesses and boaters to use the “No Boat Tax” logo when contacting your legislators and sharing with friends on social media.
Waggoner wishes to thank its readers; the aforementioned NMTA lobbyists; and RBAW lobbyist Trevor Justin for their dedicated work to protect the interests of recreational boaters and the boating industry. Boat related businesses, marinas, and mariners are encouraged to become members of NMTA and RBAW.
No Boat Tax Logos – Courtesy NMTA
