04/23/2010 05:12 am ET | Updated May 25, 2011

Missouri Yacht Tax Exemption Continues While Schools Face Budget Cuts

Cash-strapped legislators have recommended spending cuts for Missouri schools and shelters for battered women, but so far the yachting class can enjoy another season of clear sailing.

Thanks to a longstanding tax exemption, Missouri's marina set can opt to pay a small fee in lieu of sales taxes and shave as much as $30,000 off the purchase of a $500,000 boat.

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