Gov. Dannel P. Malloy on June 26 signed into law a bill co-sponsored by State Sen. Art Linares that will provide a boost to Connecticut’s marine industry.
Sen. Linares (www.senatorlinares.com) represents the 33rd Senate District, which encompasses Chester, Clinton, Colchester, Deep River, East Haddam, East Hampton, Essex, Haddam, Lyme, Old Saybrook, Portland and Westbrook.
The new law, which takes effect immediately, includes these changes:
- Extends the length of time that boats stored during the winter are exempt from sales and use tax,
- Extends the sales tax exemption for storing noncommercial boats by two months, by starting the period sooner and ending it later. Under current law, the period runs from Nov. 1 to April 30. Under the new law, it runs from Oct. 1 to May 31,
- Extends the use tax exemption for boats brought into Connecticut only to be stored, maintained, or repaired, by ending the period one month later. Under current law, the period runs from Oct. 1 to April 30. Under the new law, it runs from Oct. 1 to May 31.