Good News For Consumers…

If you are shopping for a yacht or jet

breaking_news_3-150x150New York State’s new budget allows sales tax exemptions for folks who buy a new yacht or corporate jet. For the yacht, no state sales tax for costs over $250,000. For the jet, no state sales tax so long as it holds fewer than 20 passengers.

If you have put off buying your new yacht or getting your own jet, get it in New York! For each million in purchase price, you’ll save between $40,000 to $88,000. Next, splurge a bit: celebrate the huge tax savings on a foreign vacation within range of your plane or boat. (Why spend those big bucks in high-priced Manhattan?)

Governor Andrew Cuomo and his merry band of legislators passed the new budget at 3:00 AM on April 1. They are the public servants who changed their minds about keeping their promises to fix the broken ethics bar. New York and New Jersey have been in competition for the MCSL Award (Most Corrupt State Legislature). This puts NY back on top.

Governor Cuomo derailed his ethics reform commission when it not only asked legislators to disclose fees and sources of “earnings” from private corporations and lobbyists, it dared ask questions about his staff’s ethics. Thus the new budget is, like past budgets, protected from harm that might have come keeping promises about curbing the pay-to-play culture in Albany.

This is good news for consumers who need tax breaks for buying big boats and planes. Legislators stay on the take and the governor puts the brake on corruption disclosure.

 Very Rich Consumerist Takeaway: Shop for your yacht and/or jet in New York. Practically sales tax free!



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