"Lets not go Backwards!"
HARTFORD, Connecticut --
Connecticut's new governor, Democrat Ned Lamont, offered a budget plan Wednesday that modernizes the state's sales tax base by imposing the 6.35 percent levy on a long list of goods and services, proposes highway tolls as way of funding transportation, and takes steps to stabilize the state's pension systems and make government more efficient.
CT Governor Lamont's new budget has a few initiatives that will impact the boating industry:
Returning the current 2.99% sales tax on vessels back to the standard 6.35% rate.
Repealing the sales tax exemption on winter storage for out-of-state vessels.
Repealing the sales tax exemption on labor charges for repair or maintenance on vessels.
These were initially implemented to help put Connecticut's boating industry on a level playing field when competing with neighboring states, and it worked. Business increased and CT employees benefited.