Last night NMTA President George Harris, along with other members of the boating community, testified in front of the Senate Ways & Means Committee in defense of the industry.
Early yesterday the Democratic Caucus released a string of proposals to increase revenue for the Washington State General Fund. The tax package proposes to raise an additional $918 million in the remaining year of the current biennium and more than $2.0 million in the 2011-2013 biennium. This represents about a 50 percent increase in the size of the tax increases in the current biennium over the proposal advanced by Governor Gregoire last week ($900 million vs. $605 million).
The Senate Democratic Caucus tax proposal drops the proposed taxes on candy, gum, soda pop, bottled water and pop syrup.
In place of those taxes, there is an expanded list of “tax loopholes” proposed to be closed, including many we have already seen discussed, but also eliminating the current trade-in allowance on vehicles and boats, repeals of a preferential rate of prescription drug sales, expanded corporate officer liability for unpaid business and occupation taxes.
In addition, the Senate proposal increases the state sales tax by 0.3 percent for a three-period beginning this summer. The legislation will include a “working families tax exemption” refund, but there are no details on the refund.
Finally, the proposal includes the previously discussed proposals for addressing economic nexus and tax avoidance.
The business community was out in force at yesterday's hearing. NMTA, the Northwest Yacht Brokers, and Recreational Boating Association of Washington all spoke out in opposition to eliminating the trade-in allowance on boats. This proposal would have a terrible affect on boat sales. One auto dealer at the hearing estimated in the increased cost to consumers at $1,000 per purchase!
To contact your legislators today and speak out against the proposal, visit www.leg.wa.gov and click "Find Your District". You can also call the legislative hotline, 1-800-562-6000.
Early yesterday the Democratic Caucus released a string of proposals to increase revenue for the Washington State General Fund. The tax package proposes to raise an additional $918 million in the remaining year of the current biennium and more than $2.0 million in the 2011-2013 biennium. This represents about a 50 percent increase in the size of the tax increases in the current biennium over the proposal advanced by Governor Gregoire last week ($900 million vs. $605 million).
The Senate Democratic Caucus tax proposal drops the proposed taxes on candy, gum, soda pop, bottled water and pop syrup.
In place of those taxes, there is an expanded list of “tax loopholes” proposed to be closed, including many we have already seen discussed, but also eliminating the current trade-in allowance on vehicles and boats, repeals of a preferential rate of prescription drug sales, expanded corporate officer liability for unpaid business and occupation taxes.
In addition, the Senate proposal increases the state sales tax by 0.3 percent for a three-period beginning this summer. The legislation will include a “working families tax exemption” refund, but there are no details on the refund.
Finally, the proposal includes the previously discussed proposals for addressing economic nexus and tax avoidance.
The business community was out in force at yesterday's hearing. NMTA, the Northwest Yacht Brokers, and Recreational Boating Association of Washington all spoke out in opposition to eliminating the trade-in allowance on boats. This proposal would have a terrible affect on boat sales. One auto dealer at the hearing estimated in the increased cost to consumers at $1,000 per purchase!
To contact your legislators today and speak out against the proposal, visit www.leg.wa.gov and click "Find Your District". You can also call the legislative hotline, 1-800-562-6000.
Labels: boating, taxes, Washington State
