There’s No Such Thing as a Free Lunch!

Whoever said that was absolutely right. And it’s even truer in today’s politically-charged, Covid-19 climate. If there was ever a time when you must be ready to protect your marine business from damaging legislation and negative regulation, it’s now!

     You must become an ACTIVIST. There is no doubt this pandemic will cause serious threats. For example, it’s already crippling state and local tax revenues. In April alone, Ohio’s revenues were down $866 million. That was on the heels of a similar drop in March, May will also be down, and on it will go for some time.

     It’s clearly going to result in politically-charged requirements to cut budgets and raise revenues later this year. And, it’s also an election year, which simply means it’s critical we actively support our legislative friends who will defend our interests in the coming budget battles. We do this through our BoatPAC.

     Do we have specific concerns? Yes. For example, we know there are lawmakers who already advocate repealing our Difference Tax law and now they’ll have a golden opportunity to push their case. Surely on the table will also be: increased licensing fees, inventory taxes, sales taxes, unemployment taxes, real property taxes, corporate income taxes, capital gains taxes and, while less likely but still possible – an increase in the personal income tax. And, don’t forget administrative fees of all kinds can be created or imposed, like a dock tax, higher submerged land fees, and many more.

BAO exists to protect your interests. But, besides the necessary work of our staff and lobbyists, we must have lawmakers and allies in Columbus stand up for our interests. They must get re-elected or re-appointed. Our BoatPAC provides a needed source of campaign support to make that happen.