N.J. SALES TAX CUT ON BOATS HELPING SALES

Boat sales are on the rise in New Jersey, after legislation that was passed last year to lower the sales tax on boats, with a cap of $20,000. The Press of Atlantic City surveyed boat and yacht sales agents throughout South Jersey and found that more people are indeed buying boats locally, instead of making their purchase in other states to save money on sales tax. It’s estimated that the boating industry generates about $2.2 billion per year in economic impact throughout the state.

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