Maryland weighs adding luxury tax on boats
Maryland lawmakers are considering a bill that would impose a 1 percent "luxury surcharge" on certain items, including boats costing more than $35,000.
The bill also would tax cars, motorcycles and planes costing more than that amount.
The tax on motor vehicles, boats, and airplanes sold for a taxable price of more than $90,000 would be $550, plus 2 percent of the amount above $90,000.
The bill, which would impose a luxury tax on most retail sales of items valued above $5,000, was introduced last month in the House of Delegates. It was referred to the Rules and Executive Nominations Committee.
If passed, the bill will take effect July 1.
According to a petition against the proposal on Change.org, the bill would “effectively force boaters and would-be buyers of boats to seek another venue in which to enjoy, keep and purchase their boats to avoid these surcharges.