New Connecticut Laws in 2020 That Could Impact Your Life - Trumbull, CT - Here is how your life can change under new Connecticut laws in the New Year. Ten years ago, that number was 3,021. New York has a cap on sales taxes for high-end yacht sales, charging sales tax … If not collected by a registered boat, recreational off-highway vehicle or snowmobile dealer, a purchaser must file and pay a Sales or Use tax with Form ST-6: Certificate of Payment of Sales or Use Tax for Boat, Recreation or Snow Vehicle. Acceptable Forms of Payment at DMV office locations. When a boat is sold, the sales tax applies only to the difference between the price of the new boat and the value of any old boat the buyer trades in (CGS § 12-430a). There were 1,125 new boats sold in Connecticut in 2017. It's fast, easy and secure. MassTaxConnect is the recommended ST-6 filing and paying method. Delaware and Rhode Island do not require a sales tax at all, and in some states, sales tax is only applied up to a certain amount of the boat’s purchase price. INCOME TAX Personal income from maritime industries and businesses is taxable on the same basis as … Full trade-in credit is allowed when computing the Connecticut Sales and Use tax, if the vehicle was purchased from a licensed dealer. Connecticut boat sales dropped by 9 percent, from 2016 to 2017, according to the marine trades association. The 3 Main Types of Taxes that Boat Owners Pay First, there’s the sales tax, which you likely will have to pay when you buy the boat.This sales-tax rate varies from state to state, and the swings can be big. Connecticut cities and/or municipalities don't have a city sales tax. Sales From Licensed Dealers - If the vehicle was purchased from a licensed dealer, the 6.35% (or 7.75% for vehicles over $50,000) sales and use tax is based on the purchase price. The state general sales tax rate of Connecticut is 6.35%. Rhode Island, for instance, charges no sales tax on boat sales purchased after 1993. Every 2020 combined rates mentioned above are the results of Connecticut state rate (6.35%). How 2020 Sales taxes are calculated in Connecticut. Meanwhile, boat registrations in Connecticut dropped by 2,300 this past year. Effective January 1, 2020: An Aquatic Invasive Species (AIS) Stamp fee will be collected from any person who registers or renews a registration of a boat, vessel or jet ski in Connecticut.Boaters with out of state registrations who boat on Connecticut inland waters will also be required to pay an AIS fee. There is no county sale tax for Connecticut. Connecticut boat sales has been on a prolonged ebb tide since the recession, with recreational boat registrations down 4.1 percent in 2015, according to … More info.. The Connecticut State Tax Tables for 2020 displayed on this page are provided in support of the 2020 US Tax Calculator and the dedicated 2020 Connecticut State Tax Calculator.We also provide State Tax Tables for each US State with supporting tax calculators and finance calculators tailored for each state.. In July, Connecticut lowered its sales tax on marine vessels to 2.99 percent from 6.35 percent in response to pressure from several marine businesses losing revenue to surrounding states.