Citing the State of Washington having taken “a different approach recently,” The Sailing Company has decided it will no longer hold its NOOD regatta in Seattle beginning this year. The NOOD event (National Offshore One-Design regatta) is one of many such regattas around the country.
The Sailing Company (Cruising World and Sailing World Magazines) has held the regatta with support from both Seattle and Corinthian-Seattle Yacht Clubs for several years. It is the biggest regatta of its kind on Puget Sound and draws participants from around the country.
According to Brian Ledbetter, Sailing Director at SYC, the two yacht clubs are already talking too each other about how to fill the void, both in the short- and long-term.
I’ll definitely keep tabs on the reasons behind the move as they become apparent and any changes to the racing schedule. Ledbetter points out that “with Star NA’s, Farr 30 Worlds, Gorge Melges 24 Nationals, Whidbey dinghies, and something else I can’t remember, there will be a lot of good one design racing to go around!”
what the H@#$ does Citing the State of Washington having taken “a different approach recently,” mean??
Well, “G,” here it is straight from the (Sailing Company’s) lawyer’s mouth:
“Tax laws in Washington can subject a company to taxes on all activities, including those conducted outside of Washington. In deciding whether to conduct an event in any jurisdiction, we must consider the potential company-wide tax implications. In this case, the NOOD event in Washington incurs an overall cost that is significantly greater than our possible return.”
More on this as it becomes available.