The State of New York has introduced a significant tax break for buyers of luxury yachts. «A new regulation provides that buyers» of vessels worth more than $230,000 are exempt from paying sales tax. The new ruling was included in a budget bill that was released Sunday.
The need to repeal «luxury tax» has not been discussed with the public, the press reports. Moreover, the innovation became known only after it was pointed out by an independent research group, which carefully studied the document. Thus, the deed of the authorities immediately caused sufficient amount of disputes.
Lawmakers supporting the idea reported that the decision not to tax expensive boats was caused by a desire to protect local manufacturers and preserve jobs in the boat building and selling industry. They say no one in New York City is buying luxury boats «and everyone is going to buy them in Florida, because the law is already in effect there».
At the same time, opponents insist that this «free giveaway» for the rich condones social inequality in society.
