If you are planning on purchasing a yacht this year, and thinking about financing, your timing could not be better. Not only are there many fantastic buys available, but interest rates are at an "all time low." Let us put you into that perfect boat while these super low fixed rates are still available. Call Four Points Yacht & Ship Brokers at 954-351-5500 Florida Caps State Tax on Yacht Sales to $18,000.00 Gov. Charlie Crist of Florida signed a bill which became law on July 1st, 2010 which caps the Florida Sales and Use Tax on Yachts to a maximum of $18,000.00. The bill is part of the larger “Jobs for Florida” bill, and a huge welcome mat to you, the yacht purchaser. The “use tax” component of this bill, also allows for owners of foreign flagged vessels to pay the $18,000.00 maximum (no matter how long ago they purchased and registered foreign), deflag from the foreign registry, and avoid the necessity of leaving US Waters for 15 days annually to renew the annual cruising permit.

Florida – Stay up to 180 days tax free!!!

Non-residents who purchase a boat over 5 net tons in Florida, can purchase a 90 day tax exempt decal from their broker. This can now be extended to 180 days, if the purchaser opts for the 2nd decal before the 60th day. Tax exempt decals may only be obtained from the Selling Yacht Broker/Dealer who is licensed by the State of Florida. Sales between individuals do not qualify for the tax exemption. (Dinghies are taxable as they are under 5 net tons, unless removed within 10 days of the date of purchase).

The New Panamax

As many mariners know, a third set of locks is being added to the Panama Canal, which currently handles ships up to 965 feet long and 106 feet wide ( a limit known as “Panamax”). Traffic through the canal connecting the Atlantic and Pacific has long been backed up, which makes sense when you consider that vessels ranging from small recreational sailboats to giant bulk carriers queue for the 50 mile shortcut that’s an alternative to rounding Cape Horn! Excavation is under way at the Panama end of the new locks, with the New York Times reporting progress on a hole that’s now a mile long, several hundred feet wide and more than 100 feet deep. When the new dig is finished, vessels with beams of up to 160 feet, overall lengths of up to 1,200 feet and drafts of up to 50 feet will be the “New Panamax” standard. The cost is estimated at $5.25 Billion and could potentially triple the amount of cargo that annually passes through the canal when it’s completed in 2014.

Mustang Survival PFD Recall Notice

The United States Coast Guard strongly urges mariners and boaters alike to check their Mustang Survival PFDs. Mustang Survival is voluntarily recalling all model number MD2010 and MD2012 inflatable Personal Flotation Devices (PFD's) sold in the United States during 2011. No other Mustang Survival products are affected. Distributors and consumers are urged to contact Mustang Survival's Customer Service department at 1-800-526-0532 between 7:30am and 4:30pm PST, Monday through Friday for specific shipping instructions. Mustang Survival will pay for all testing, repair and shipping costs. Consumers should not return product to their dealer. If you have questions, please access their website. Additional questions may be addressed to Martin.L.Jackson@uscg.mil.

NMMA Evaluates Promising Alternative Biofuel

NMMA recently released findings from preliminary evaluations on isobutanol-gasoline blends supplied by Gevo. The tests were conducted by NMMA and the American Boat and Yacht Council (ABYC) as the recreational boating industry continues to explore alternative biofuels in response to the U.S. introduction of E15. The testing conducted on isobutanol reveals it could be a promising biofuel alternative to E15. The NMMA and ABYC isobutanol evaluations tested components, including older fiberglass tanks, and engines during on-the-water testing on inboard, outboard, jet pump and two-stroke outboard engines. The tests showed isobutanol to produce no more emissions than pure, EPA-approved test gasoline, while producing 30 percent more energy than ethanol. The DOE has designated isobutanol a "drop-in biofuel," meaning it can be used to displace petroleum under the Energy Independence and Security Act of 2007, and increasing its use could help reduce greenhouse-gas emissions. Support from Bombardier Recreational Products (BRP) and Volvo Penta made the testing possible through the provisions of product, personnel and testing equipment. Gevo, Inc., producer of isobutanol, supplied the fuel for the testing. For more information please contact John McKnight at 202-737-9757 or jmcknight@nmma.org. To read NMMA's full press release, click here.

National Park

NMMA urges its members to contact their Member of Congress to voice their opposition to Park Service proposals that would limit fishing and boating access in Biscayne National Park, closing more than 20 percent of the park's public waters. Please click here to reach out to Congress and voice your strong opposition to this measure. Boating and fishing are critical to South Florida's economy and recreation in Biscayne Bay. To join the NMMA task force on this issue or for further information, please contact Nicole Vasilaros at nvasilaros@nmma.org or 202-737-9763.

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