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Ahoy.
The 90-day yacht club might disappear again as proposed in Gov. Schwarzenegger’s new budget for fiscal year 2008-2009.
“90-day yacht club” is the name for process of avoiding sales tax on vessels by removing the vessel out of state for more than 90 days.
The governor wants to revert back to recently eliminated 360-day period required to keep the vessel out of state.
Many new vessel owners have used the 90-day period, and it actually does increase sales in California helping our local economy. Sen. Dick Ackerman (R-Irvine) was the leading force this year to move back to the 90-day period.
You have to keep in mind that in reality we are referring to new vessel purchases of more than a quarter of a million dollars upward on into the millions.
The one-year wait will simply shift the buyer to purchase the vessel either in another state like Florida, or purchase in California and then move the vessel south of the border, like to Cabo San Lucas, for a year.
Either scenario is a loss for California and marine industry. Have you wondered why you do not see many mega or super yachts in California? I will explain in my column next week.
Tip of the week is to join us at the 52nd Annual Los Angeles Boat Show this Saturday, Feb. 9, where we will be broadcasting live from 11 a.m. until noon.
As a special treat, you can have your photo taken with our two beautiful Boathouse Girls who will be at our broadcast booth.
The Los Angeles Boat Show is produced by the Southern California Marine Association, and the show is now in its 52nd consecutive year. The L.A. Boat Show occupies more than 500,000 square feet, which is all indoors and featuring more than 1,100 new boats from 6 feet to 60 feet.
The boat show is Feb. 9-17 inside the Los Angeles Convention Center, located at 1201 S. Figueroa St., cross streets are Pico and Figueroa just south of Staples Center.
The show hours are weekdays from 1 p.m. to 9 p.m., Saturdays from 10 a.m. to 9 p.m., and Sundays from 10 a.m. to 6 p.m.
You can go to www.losangelesboatshow.com for more information. Tickets are $12; children 12 and younger get in free.
Remember to tune in every Saturday at 11:00 am to “Capt. Mike Whitehead’s Boathouse Radio Show” broadcasting from our studios inside Angel Stadium on AM 830 blasting with 50,000 watts to Southern California.
MIKE WHITEHEAD is the Pilot’s boating columnist. Send marine-related thoughts and story suggestions to [email protected] or go to www.boathousetv.com.
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