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Propositions ask to continue tax on out-of-state vehicle, boat …

On Tuesday, voters in Boone County (Proposition F) and Columbia (Proposition 2) will be asked to consider continuing an existing sales tax on purchases of out-of-state motor vehicles, trailers, boats and outboard motors.

Q. What is the sales tax about?

Q. Is this a new tax?

A. No. The question is on the ballot only as a result of the Missouri Supreme Court decision and the state legislation that followed. If the question is not placed on the ballot, or if the tax is discontinued by voters, the tax would cease to be collected beginning January 2017.

Q. How does the tax affect me?

A. The tax only applies if you purchase a motor vehicle, trailer, boat or outboard motor from out of state. Similar purchases made in state are subject to the local sales tax regardless of the vote on this ballot question.

Q. Are other communities in Missouri affected?

Yes. A number of cities across the state are voting on this issue at various times during 2016.

Q. Is there an impact on local dealerships?

A. Yes. If the tax were to end, Missouri dealerships would be at a competitive disadvantage with out-of-state dealerships that would no longer be required to collect the tax.

Q. What is the expected loss of revenue?

A. City staff estimates that the budget impact of discontinuing collection of the out-of-state vehicle sales tax would cost about $500,000 per year. About 20 percent of vehicle sales come from out-of-state vendors or private sales, according to the Missouri Department of Revenue.

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Propositions ask to continue tax on out-of-state vehicle, boat purchases

On Tuesday, voters in Boone County (Proposition F) and Columbia (Proposition 2) will be asked to consider continuing an existing sales tax on purchases of out-of-state motor vehicles, trailers, boats and outboard motors.

Q. What is the sales tax about?

Q. Is this a new tax?

A. No. The question is on the ballot only as a result of the Missouri Supreme Court decision and the state legislation that followed. If the question is not placed on the ballot, or if the tax is discontinued by voters, the tax would cease to be collected beginning January 2017.

Q. How does the tax affect me?

A. The tax only applies if you purchase a motor vehicle, trailer, boat or outboard motor from out of state. Similar purchases made in state are subject to the local sales tax regardless of the vote on this ballot question.

Q. Are other communities in Missouri affected?

Yes. A number of cities across the state are voting on this issue at various times during 2016.

Q. Is there an impact on local dealerships?

A. Yes. If the tax were to end, Missouri dealerships would be at a competitive disadvantage with out-of-state dealerships that would no longer be required to collect the tax.

Q. What is the expected loss of revenue?

A. City staff estimates that the budget impact of discontinuing collection of the out-of-state vehicle sales tax would cost about $500,000 per year. About 20 percent of vehicle sales come from out-of-state vendors or private sales, according to the Missouri Department of Revenue.

What’s this?)

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Log In

Please join the conversation. Follow the guidelines
outlined below

• Don’t use obscene, profane or vulgar language.
• Don’t use language that makes personal attacks on fellow
commenters or discriminates based on race, religion, gender or
ethnicity.
• Use your real first and last name when registering on the
website. it will be published with every comment.
• If you see something objectionable, please click the Report link
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Jury Awards $9.5M to Sisters Injured in 2009 Boat Collision

Two sisters from New Jersey have received a $9.5 million jury award stemming from a 2009 boat collision that left them with serious injuries and killed one of their friends.

Jamie and Gina Franzino, of Mahwah, were aboard a 15-foot skiff that collided with a 31-foot boat in the Manasquan Inlet.

The driver of the larger boat, Ed McCarthy, of McCarthy’s Marine Sales, was found liable in a trial in January, The Record (http://bit.ly/2aCFTVO) reported.

Last week, at the conclusion of the damages portion of the trial, a jury of five women and three men awarded $3.9 million to Jamie Franzino and $5.1 million to Gina Franzino. Gina Franzino also received $500,000 to cover an anticipated hip replacement operation.

An email message left with McCarthy wasn’t returned Saturday.

“While money cannot take away Jamie or Gina’s physical and emotional scars, it will certainly help them carry on their lives with financial stability,” Samuel L. Davis, an attorney who represented Gina Franzino, told the newspaper.

According to Coast Guard officials, at the time of the crash the skiff carrying five people and the larger Boston Whaler with two people aboard collided on the north side of the Manasquan River between Point Pleasant Beach and Brielle.

After the collision, the smaller boat came to rest in about 2 feet of water near Fishermen’s Cove, a conservation area also known as Dog Beach

Jamie Franzino suffered injuries including a collapsed lung, broken rib, fractured pelvis and concussion. Gina Franzino suffered a broken pelvis and had to have her spleen removed.

Another passenger on their boat, 24-year-old Kyle Tanis, of Mahwah, suffered a skull fracture and drowned.

The two men aboard the larger boat were not injured in the collision. The crash tore the tail off the skiff and left its front end heavily damaged. Its center console was ripped from the hull by the impact. The Boston Whaler also sustained extensive damage.

———

Information from: The Record (Woodland Park, N.J.), http://www.northjersey.com


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Sisters critically injured in fatal boat crash awarded $9M

An NYPD helicopter with rescue divers aboard takes off after two boats – a 16 foot Key West center console and a 30-foot Boston Whaler sportfisher collided on the Manasquan River between Brielle and Point Pleasant Beach on May 22, 2009. 

HACKENSACK — A pair of sisters from Bergen County were awarded a total of $9 million for the critical injuries they suffered in a fatal boating crash in the Manasquan Inlet on Memorial Day weekend in 2009, according to a report.

A jury in Bergen County awarded damages to Jamie Franzino, 26, and Gina Franzino, 29, both of Mahwah, at the conclusion of a two-week trial, according to the NorthJersey.com report.

The sisters, along with three other people, were aboard a 15-foot Key West powerboat that was hit head-on by a 31-foot Boston Whaler on May 22, 2009, in the Manasquan Inlet between Brielle and Point Pleasant Beach.

One of the passengers, Kyle Tanis, 24, of Mahwah, was killed and the other four were injured. The Franzino sisters were trapped in the boat.

The operator of the Boston Whaler, Ed McCarthy, owner of McCarthy’s Marine Sales in Brielle, was found liable for the crash after a trial in January, the report said.

MaryAnn Spoto may be reached at mspoto@njadvancemedia.com. Follow her on Twitter @MaryAnnSpoto. Find NJ.com on Facebook.


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Maverick Boat Group adds dealers and announces personnel moves

Posted on July 29th, 2016

Two new territory sales representatives and six new dealers from California to Florida were announced at the Maverick Boat Group dealer meeting.

National sales manager Skip Lyshon said Zach Crane will be the new Northeastern sales representative and Rick Koerting will be the Midwest sales representative.

Big Bay Yachts of San Diego; BMC Boats of Longwood, Fla.; Cape Fear RV and Marine Service of Wilmington, N.C.; Custom Marine of Statesboro, Ga.; Hideaway Yacht Sales of Detroit; and Palmetto Boat Sales of Charleston, S.C., were announced as new dealers for the four brands of boats — Cobia, Hewes, Maverick and Pathfinder.

“We are extremely pleased to add these fine retailers to our already top-notch dealer network,” Lyshon said in a statement. “With the addition of these new dealers and freshness of our model lineups, we are very encouraged about our future.”


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Ranger Boats names Vic’s Sports Center top single market dealer …

Vic’s Sports Center in Kent, Ohio, received the award for Top Single Market Dealer from Ranger Boats at the brand’s recent national dealer conference. This year’s award marks the second consecutive year Vic’s took home top single market honors from the boat manufacturer.

The Top Single Market Dealer award, which goes to the dealership with the highest average of purchases and sales in a single market, was presented to dealership owner Tommy Vatalaro by Ranger Boats GM / Vice President of Sales and Marketing Bart Schad, along with Director of Sales Becky Raynor.

“The top single market award is an impressive accomplishment in its own right, but to win in back-to-back years is really special,” said Schad. “It’s a testament to the staff at Vic’s and their dedication to reinforcing Ranger’s legacy with exceptional product and customer service. It takes a lot of hard work to serve such a large and diverse region with so many different boating needs. We’re lucky to have such a strong partner and congratulate everyone at Vic’s Sports Center on their well-deserved award.”

For 23 years, Vic’s Sports Center has served the sales and service needs of anglers and boaters in portions of Ohio, Michigan, Pennsylvania, New York and West Virginia. The dealership inventories a full line of new Ranger freshwater fiberglass and aluminum boats in addition to used boat sales and a full service department. For more information, visit www.vicsboats.com.


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COLUMN: Boating — and boats — keep getting bigger and better

Posted: Thursday, July 28, 2016 9:00 am

COLUMN: Boating — and boats — keep getting bigger and better

By WARREN ILLI

Daily Inter Lake

|
0 comments

Wow, summer fun in the Flathead! During the last few days, the weather has been perfect for enjoying the hundreds of lakes and streams of Northwest Montana.

Last weekend was an extended weekend at our lake cabin with our entire family, plus some extra young ladies from Missoula. Most of the family didn’t arrive until 8 p.m. one evening, but it wasn’t long until all the kids were in the lake. Summer, lakes and kids just seem to go together. Our fleet of boats, my fishing boat, kayaks, the canoe, the paddle boat and a dozen water toys were all put to good use for several days.

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      Thursday, July 28, 2016 9:00 am.


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      Boat, engine sales up as Brunswick reports second quarter results …

      Brunswick Corp. reported strong revenue growth Thursday for the second quarter of 2016, with sales up in marine engines, boats and fitness equipment.

      “Our reported second quarter net sales increased by 9 percent,” said Brunswick Chairman and CEO Mark Schwabero. “Our top line reflected strong growth rates in our fitness segment and fiberglass outboard and aluminum boats. This growth was complemented by another solid performance in marine parts and accessories and outboard engines. The growth was also supplemented by the benefits from our acquisition strategy.”

      Strong U.S. and European sales are offsetting challenges in other parts of the world, Schwabero said during a call discussing Thursday’s earnings report.

      For Brunswick’s boat segment, sales were up 10 percent in the U.S. and up 21 percent in Europe, but down 16 percent for the rest of the world, with weaker demand in Canada and Latin America having a large impact, said CFO Bill Metzger.

      For the engine segment, which includes Mercury engines as well as parts and accessories, sales were up 5 percent in the U.S., up 10% in Europe and flat for the rest of the world, Metzger said.

      Currency challenges had a $5 million impact on the company’s operating earnings for the quarter, he added.

      Some other highlights of Thursday’s earnings report:

      • Consolidated net sales increased 8.8 percent versus second quarter 2015; 9.1 percent growth on a constant currency basis; excluding the impact of acquisitions, sales on a constant currency basis increased 5.4 percent
      • On a GAAP basis, operating earnings increased by 5 percent versus the prior year. Adjusted operating earnings increased by 7 percent from 2015.
      • On a GAAP basis, diluted EPS of $1.17 increased by 3 percent versus the second quarter of 2015. Diluted EPS, as adjusted, of $1.19; a 13 percent increase compared to prior year.
      • Year-to-date net cash from operations was $213.1 million and free cash flow was $130.3 million; both were improved versus the prior year.

      “The U.S. marine market continues to reflect solid fundamentals and growth, which are supported by stable boating participation, favorable replacement cycle dynamics and innovative products being introduced throughout the marketplace,” Schwabero said. “Our product successes in both our engine and boat segments have enabled continued market share gains and mix benefits.

      “In addition, our fitness business continues to benefit from solid demand, particularly in
      the global health club and hospitality markets. This foundational core growth, combined
      with favorable trends in the rehabilitation and active aging category, as well as
      increased participation in group exercise activities, is providing a healthy marketplace in
      which to execute our fitness strategy. We are making outstanding progress integrating
      Cybex into our Fitness segment and remain on plan to achieve our near-term and longterm
      financial objectives for this acquisition,” Schwabero said.

      Second quarter results

      For the second quarter of 2016, the company reported net sales of $1,242.2 million, up from $1,142.0 million a year earlier. For the quarter, the company reported operating earnings of $161.9 million, which included $2.6 million of restructuring and integration charges related to the Cybex acquisition. This compares with operating earnings of $154.2 million in the second quarter of 2015. For the second quarter of 2016, Brunswick reported net earnings of $108.1 million, or $1.17 per diluted share, compared with net earnings of $107.6 million, or $1.14 per diluted share, for the second quarter of 2015. Diluted EPS for the second quarter of 2016 included $0.02 per diluted share of restructuring and integration charges, compared with a $0.09 per diluted share benefit related to special tax items in the second quarter of 2015.

      Marine engine segment

      The Marine engine segment, consisting of the Mercury Marine Group, including the marine parts and accessories businesses, reported net sales of $719.7 million in the second quarter of 2016, up 4 percent from $689.2 million in the second quarter of 2015.

      International sales, which represented 29 percent of total segment sales in the quarter, were up 2 percent compared to the prior year period. On a constant currency basis, international sales were up 4 percent. For the quarter, the Marine Engine segment reported operating earnings of $139.0 million. This compares with operating earnings of $131.8 million in the second quarter of 2015.

      Sales increases in the quarter were led by Mercury’s parts and accessories businesses and the segment’s outboard engine business, partially offset by declines in the sterndrive engine business. Higher revenues and cost reductions contributed to the increase in operating earnings in the second quarter of 2016. Partially offsetting these positive factors were the unfavorable impacts from foreign exchange and planned
      increases in growth investments.

      Boat segment

      The boat segment is comprised of the Brunswick Boat Group, and includes 15 boat brands. The Boat segment reported net sales of $368.1 million for the second quarter of 2016, an increase of 5 percent compared with $349.3 million in the second quarter of 2015. International sales, which represented 27 percent of total segment sales in the quarter, decreased by 5 percent compared to the prior year period. On a constant currency basis, international sales were down 4 percent. For the second quarter of 2016, the Boat segment reported operating earnings of $22.7 million. This compares with operating earnings of $20.9 million in the second quarter of 2015.

      The Boat segment’s increased revenue reflected strong growth in fiberglass outboard and aluminum boats, partially offset by declines in sterndrive/inboard boats. Operating earnings benefited from higher sales and lower commodity costs and savings from sourcing initiatives, partially offset by the impact of lower sales volume of large sterndrive/inboard boats.

      2016 Outlook

      “Our outlook for 2016 continues to reflect another year of outstanding earnings growth, with excellent cash flow generation,” said Schwabero. “We believe we are well-positioned to generate strong sales growth and adjusted earnings per share growth at a mid-to-high-teen percent rate throughout our three-year plan.

      “We expect our businesses’ top-line performance for the year will benefit from the continuation of solid market growth in the U.S. and Europe and the success of our new products, partially offset by weakness in certain other international markets and the negative impact of a stronger U.S. dollar. As a result, our plan including acquisitions reflects revenue growth rates in 2016 to be in the range of 10 to 11 percent, absent any significant changes in our global macroeconomic assumptions. In total, acquisitions are expected to account for about 5 percent of 2016’s projected sales growth, reflecting the impact of announced transactions in 2015 and 2016.”

      Read the full earnings release here.

       


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      Our view: Local sales tax issue needs a “NO” vote on Tuesday

      Leave it to legalese to take a straightforward issue and leave the reader wondering what exactly it says. An example: Many local cities, including Independence, Blue Springs, Grain Valley, Oak Grove, Raytown and Lee’s Summit are working to educate voters on the language on a local sales tax initiative on next month’s ballot.

      The issue deals with the continuation of a sales tax levied on motor vehicles, trailers, boats and outboard motors that are purchased out of state. Currently, this sales tax applies to all sales – whether in state or out of state. However, in order to continue to collect this tax on out-of-state sales, voters in each city must vote no to keep this tax in place.

      This is not a new tax. It is the continuation of a tax already in place. The ballot language reads “Shall … (this city) … discontinue applying and collecting the local sales tax on the titling of motor vehicles, trailers, boats, and outboard motors that were purchased from a source other than a licensed Missouri dealer?” Because the ballot language asks if the tax should be discontinued, the answer from voters should be “no” in order to continue to collect the tax. Clear as a bell, right?

      It matters to our area cities for a couple of reasons. At stake is sales tax revenue that is critical to local cities to fund their budgets, including items related to public safety, transportation, parks and the general fund. The tax rate varies by city. For Independence, with a 2.25 percent rate, this means $800,000 a year is at stake if the “no” votes don’t prevail. For Blue Springs, at 2 percent, it is $339,000 a year and for Grain Valley, with 2.5 percent, it’s $146,000 a year. At a time when every dollar counts and local revenue streams are impacted by everything from the economy, internet sales, and the state legislature, preserving this tax is a high priority for local cities.

      But it’s even more important from the standpoint of supporting local businesses and helping them to continue to be competitive in the marketplace and contributing to our local communities. Without the continuation of this tax on out of state sales, local car and boat dealers would be at a distinct disadvantage when competing with dealers on the Kansas side of the border that would no longer be required to collect this tax should the “no” votes not prevail. Area car and boat dealers are integral to our local economies – employing area residents, supporting our schools and a host of other things that add value to our communities every day.

      The tax question also impacts the Central Jackson County Fire Protection District, which with a .5 percent rate, has $121,000 a year at stake. Because of this, voters in Blue Springs and Grain Valley will see the question twice on their ballots – once for the city and once for the fire district – and should vote no on both items.

      Then there’s Lake Lotawana, which decided to reword the ballot language. Their voters should vote “yes” to continue the tax. But for other Eastern Jackson County communities, your “no” vote on Aug. 2 on this sales tax question will keep vital funding in place, and keep a level playing field for our local car and boat dealers.


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      Vehicle sales tax confuses some

      If Lee’s Summit voters vote “yes” to discontinue an out-of-state vehicle sales tax, the city loses revenue, and automobile and boat dealers in the community will be at a disadvantage and lose business.

      That’s why supporters of the vehicle sales tax are asking residents to vote “No” on the vehicle tax question on the Aug. 2 ballot.

      The wording of the ballot question mandated by the Missouri legislature could confuse some as it reads:

      “Shall the City of Lee’s Summit, Missouri, discontinue applying and collecting the local sales tax on the titling of motor vehicles, trailers, boats, and outboard motors that were purchased from a source other than a licensed Missouri dealer?”

      So, if a voter wants to keep the tax, they need to vote “no” and if they do want to end it, they should vote “yes.”

      If the measure is passed, a Lee’s Summit resident can cross the state line and buy from a Kansas dealer, avoiding about $300 to $400 in taxes that go to support city service. Local dealers would suffer, said Bruce McWilliams, owner of Lee’s Summit Honda.

      The tax would be eliminated on vehicles purchased out-of-state or from individuals. Residents who choose to buy from a Lee’s Summit dealer would still pay a sales tax.

      The issue goes back to a Missouri Supreme Court decision in 2012 which said cities without a use tax, like Lee’s Summit, cannot levy an out-of-state vehicle sales tax.

      “We lost a couple of deals because people knew about it,” McWilliams said.

      McWilliams noted that dealerships provide good-paying jobs and their stores pay property taxes, supporting the community.

      The Missouri Department of Revenue stopped collecting the tax for a few months until the Missouri General Assembly passed legislation in 2013 to allow cities to continue the tax. But the cities were also required to have a referendum on the tax by 2018 to continue it in the future.

      Lee’s Summit Finance Director Conrad Lamb said that the city has been receiving the tax on out-of-state vehicle sales since the city has had a sales tax.

      Lamb said the total motor vehicle sales tax collected by Lee’s Summit is about $4.4 million a year. The city will lose about 10 to 20 percent of that, or $440,000 to $880,000, if the voters vote to discontinue the tax.

      The Lee’s Summit Chamber of Commerce recently announced that the organization is in support of continuing the tax.

      Matt Baird, the Chamber’s director of business and governmental relations, said the Chamber’s board unanimously endorsed the continuation at its July 20 meeting.

      Baird said the city is home to 10 major car dealerships and a number of smaller dealerships employing approximately 542 full-time and 38 part-time employees. The loss of revenue could put the businesses at a competitive disadvantage versus out of state businesses and be damaging to employees affected by the loss, Baird said.

      “It was sort of a no-brainer for our board to say we really stand behind this and support it for what it has done for the community and our dealers,” he said.


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