sales tax

Maryland Permanently Caps Boat Sales Tax

Maryland Permanently Caps Boat Sales Tax

Three years ago the State of Maryland instituted a sales tax cap for yacht sales.  The tax was and has been 5% but was capped at $15,000.  A $300,000 boat would be $15,000 and a $400,000 boat would also be $15,000.  The tax cap was temporary and had a “sunset...