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Help Protect Sales Tax on the Difference for Boats

Tuesday, March 20, 2018   (0 Comments)

Help Protect Sales Tax on the Difference for Boats

-  Nicki Polan, Executive Director, Michigan Boating Industries Association

It has been nearly 5 years since we passed the Sales Tax on the Difference Law (STOD) for boaters here in Michigan. In 2013 we fought hard and won to keep Michigan competitive with surrounding states, and so boaters would benefit with a well-deserved tax break. 

If you are not familiar with STOD, it is a law that states boat purchasers shall only pay sales tax on the difference between the value of the trade-in boat and the new boat.  For example, if you are buying a $30,000 boat and trading in a $10,000 boat you will only pay sales tax on $20,000. 

STOD also helps to keep boat sales in Michigan which strengthens Michigan companies, adds jobs, and brings added revenue to the State of Michigan. A true win for all.

Michigan Boating Industries Association | 32398 Five Mile Road Livonia, MI 48154 | Phone: 734.261.0123 | Fax: 734.261.0880

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