Effective January 1, 2019, Broward, Dade, and Palm Beach Counties will be charging a 1% Discretionary Sales Surtax on the sales of tangible personal property. This includes boats! Fortunately, this tax is only applied to the first $5,000 of the sales amount. This equates to a maximum of $50 on the sale. To be clear, this is in addition to the 6% Florida Sales Tax that is applicable to the entire sales amount.
In addition to the state sales and use tax rate, individual Florida counties may impose a sales surtax called discretionary sales surtax or local option county sales tax. Sales tax dealers must collect both discretionary sales surtax and the state sales tax from the purchaser at the time of sale, and remit the taxes to the Florida Department of Revenue. The Department distributes the discretionary sales surtax to the counties where the surtax is levied. The counties use the funds to pay for local authorized projects.
For more information, visit the Florida Department of Revenue Website.
Atlantic Yacht & Ship
For over 56 years Atlantic Yacht & Ship has been serving the yachting community. Our headquarter sales office is dockside at Harbour Towne Marina. That’s in the heart of the yachting capital of the world, Fort Lauderdale, FL. Turn to AYS for the highest quality service and sales in the yachting industry today. Whether you are looking at yachts for sale, or thinking about selling your yacht. Remember, it is always wise to have an experienced broker representing your interests throughout the deal. Contact Atlantic Yacht & Ship at 954.921.1500 or click here.