New Jersey Won’t Repeal Sales Tax Cap On Boats

The Marine Trades Association of New Jersey (MTA/NJ) announced that after weeks of meetings with the New Jersey legislative leadership including budget committee members and staff, the governor and legislature agreed to drop the proposal to repeal the sales tax cap and reduction on boats.  The state’s budget documents passed the legislature and are headed to the governor for signature.  While the $32.7 billion dollar budget does include a number of tax increases and borrowing, it does not include an increase in the boat sales tax. The budget keeps state government running through June 30, running just nine months long because Governor Murphy and legislators cut short the fiscal year due to the COVID-19 outbreak.

Executive director Melissa Danko and MTA/NJ’s lobbyist Rob Nixon worked daily to show the benefits of the reduction and cap with legislators and made the case that this law, passed in 2015, not only supports and protects everyone in the boating industry but keeps revenue in the state, provides jobs and benefits the economy of New Jersey as a whole.