On July 1, 2010, Charlie Crist signed a piece of legislature that packed a much needed punch for the marine industry of South Florida. Freedom to own American was delivered when a maximum sales tax cap of $18,000 was ushered into effect on pleasure vessels. What was 6% of total value is now $18,000 flat, last year the owner of a 3 million dollar vessel being sold in Florida would pay $180,000 today $18,000, wow!!
South Florida with its proximity to the islands, best brokers, service techntians, products, fresh food, cold beer and beautiful women is regarded as a premium area in which to berth a yacht. Below are just a few reason why many yacht owners choose to keep their yachts in this state:
• A few hours from the Bahamas and Florida Keys
• Beautiful Beaches and Plenty of private and resort dockage • Yachting is the right time all year around • Cradle of yacht innovation and tech support
With jobs desperately needed here in South Florida, this law is bound to breath life back into the marine industry as owners no longer have to hide under a foreign flag. No foreign company set up and managed, no need to get the boat out of US waters every year and no restrictions on sale-ability. Also it’s a critical start to pave the bridge between truly accommodating mega yachts (often dodging Florida because of the head aches, high berthing costs and immigration hassle) Brian Muston creator of Yacht Support USA knows well the amount of money and jobs Florda is loosing to these hassles. Let’s band together and bring in the new South Florida Yachting Scene. -Josh Cunningham (owner) FreedomYachtManagement.com