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Yacht Dealers Get Lift From State Lawmakers

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

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.

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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