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Important Tax Change Info
Change in the Washington State sales and use tax of vessels signed on April 10, 2007. Changes took effect July 1, 2007.
Brief summary of Substitute Bill:
- Provides a sales tax exemption for vessels purchased in Washington by nonresident individuals if the individual acquires a permit and (the vessel) remains in the state for no more than 12 (twelve) months.
- Provides a use tax exemption for vessels brought into Washington by nonresident individuals if the individual acquires a permit and (the vessel) remains in the state for no more than 12 (twelve) months.
- Exempts nonresident individuals in possession of a use permit from the requirement to register a vessel with the Department of Licensing for 12 (twelve) months.
Please give us a call and we would be happy to answer any questionsyou have regarding this important tax change and the advantages for out-of-state buyers.
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