Houston Chronicle by Jeremy Wallace May 22, 2019
Homeowners are not expecting much of a tax break from the Texas Legislature this year, but millionaire yacht owners are on the brink of getting a major one.
The Texas Senate has approved legislation that would cap the amount of sales tax on boats as long as 115 feet at $18,750. For the buyer of a $3 million yacht, that tax break would be worth almost $228,000.
State Sen. Larry Taylor, R-Friendswood, doesn’t deny big yacht owners will benefit, but that is not the point.
“People who buy big boats are buying them in other states,†Taylor said.
More:
https://www.houstonchronicle.com/news/politics/texas/article/Yacht-owners-on-brink-of-getting-tax-break-while-13874888.php
