The Triton

Editor's Pick

Georgia may pull tax cap on yacht refits


An article on the Atlanta Journal-Constitution newspaper’s website yesterday reports that Georgia state legislators are considering cancelling the sales tax cap it put on yacht refits as a way of returning some money to state coffers.

Georgia senators are reviewing about 40 special-interest tax breaks lawmakers have passed over the years, the newspaper reported.

In 2017, Georgia state legislators passed a bill to cap state sales tax on parts and equipment during a refit worth $500,000. Georgia sales tax rate ranges from 7 to 8 percent, depending upon the county. The move was seen to benefit shipyards there, including Thunderbolt Marine and the then-burgeoning Savannah Yacht Center.

Florida legislators passed their own yachting tax cap in 2015, but the cap didn’t kick in until repairs or refits reached $1 million. Yards in Florida were concerned at the time that Georgia’s lower cap might lure some of Florida’s refit business north. 

The proposal may be discussed in committee as early as tomorrow. The AJC report notes that, although Georgia’s legislature doesn’t reconvene until next spring, “lawmakers can vote to eliminate tax breaks at any time.”

Related Posts

  • Engineer's Angle: Rapport in repair relies on client-tech respect
  • Yacht captains and crew keep the industry afloat
  • Share This Post

    One thought on “Georgia may pull tax cap on yacht refits

    1. Todd Nelson

      Eliminating this tax break could cost the state, and specifically Savannah far more money in lost revenue for all the businesses that are directly, and indirectly associated with servicing the vessels in Georgia for service. Those vessels my stay in Florida instead, costing workers jobs, and businesses, including bars and restaurants. The losses would be far more than the tax they might gain

    Leave a comment

    Your email address will not be published. Required fields are marked *

    Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Editor’s Picks

    MarineMax acquires NJ

    MarineMax acquires NJ

    Clearwater, Florida-based MarineMax has acquired Fort Lauderdale-based brokerage firm Northrop & Johnson, a 71-year-old company that …

    RPM Diesel owner dies

    RPM Diesel owner dies

    By Lucy Chabot Reed Joe Rubano, owner of Fort Lauderdale-based RPM Diesel Engine Co. and Diesel Services of America, died at his home …

    Living with a sub: A yacht captain’s reflections as a sub pilot

    Living with a sub: A yacht captain’s reflections as a sub pilot

    By Lucy Chabot Reed Capt. Les Annan didn’t think his musings about working and living with a submarine would generate much interest. …

    Fire destroys Sunseeker in Bahamas

    Fire destroys Sunseeker in Bahamas

    M/Y Vanish, a Sunseeker thought to be about 65 feet, caught fire and was destroyed today at Valentines Marina on Harbour Island in the …