The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Jan 31, 2018
A five-year push to change the state sales tax for RV dealers and consumers has paid off in timely fashion for the Michigan Association of Recreation Vehicles and Campgrounds (MARVAC).
“Educating and working with the politicians in (the Michigan state capitol of) Lansing and around the state was a major directive for MARVAC for the last five years,” says William Sheffer, executive director of MARVAC, located in Okemos, in a prepared statement. The association has been advocating for a “sales tax on the difference” policy, which went into effect in Jan. 18 after a rare override by the Michigan Legislature.
In June of last year, Senate Bills 94 and 95 were passed by the senate which allowed for a person trading-in a used RV to purchase a new RV to be taxed only on the difference between the value on the trade-in and the new RV price. For example, if the trade-in value of an RV is $50,000 and a new 2018 RV is $100,000, the 6 percent sales tax will only be applied on the difference of $50,000, Sheffer says.
Governor Rick Snyder vetoed the bills in July 2017, but in an unusual move by the legislature, the veto was overridden, said information from the association. These bills mark the first time a Michigan governor’s veto has been overturned since 2002.
“This is a great deal for those who enjoy RVing but may have been holding off on purchasing a new RV,” said Sheffer. “In addition to being great news for the RV consumer, RV dealers are thrilled because it gives them another sales tool.”
With Michigan’s largest RV Show, the 52nd Annual Detroit Camper & RV Show at Suburban Collection Showplace in Novi, running Feb. 7 to 11, RV buyers will have an excellent opportunity to take advantage of the substantial new tax savings.
“These Public Acts 1 and 2 of 2018 are not only benefiting family-run businesses, but the state economy as a whole,” Sheffer says. “We are pleased the dedicated effort of MARVAC on behalf of RV enthusiasts across the state has come to such a beneficial outcome.”