Yacht Dealers Get Lift From State Lawmakers

WESTCHESTER COUNTY, N.Y. -- Many wealthy New Yorkers could get a tax break thanks to a piece of legislation in the new budget, according to Crain's New York.

New York State's new budget included legislation that makes yachts exempt from sales tax.
Photo Credit: *Flickr*

Joe Jenkins

04/06/2015 9:30 a.m.

Lawmakers passed a measure that makes yachts and other large, expensive boats exempt from sales tax. The move, lawmakers said, was to gain back sales that were lost to other, more tax friendly states, Crain's New York reported.

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