Pretty "rich," eh?
Sen. John Kerry skips town on sails tax
By Gayle Fee and Laura Raposa
Friday, July 23, 2010 - Updated 1 day ago
Sen. John Kerry, who has repeatedly voted to raise taxes while in Congress, dodged a whopping six-figure state tax bill on his new multimillion-dollar yacht by mooring her in Newport, R.I.
Isabel--Kerry’s luxe, 76-foot New Zealand-built Friendship sloop with an Edwardian-style, glossy varnished teak interior, two VIP main cabins and a pilothouse fitted with a wet bar and cold wine storage--was designed by Rhode Island boat designer Ted Fontaine.
But instead of berthing the vessel in Nantucket, where the senator summers with the missus, Teresa Heinz, Isabel’s hailing port is listed as “Newport†on her stern.
Could the reason be that the Ocean State repealed its
Boat Sales and Use Tax back in 1993, making the tiny state to the south a haven--like the Cayman Islands, Bermuda and Nassau--for tax-skirting luxury yacht owners?
Cash-strapped Massachusetts still collects a 6.25 percent sales tax and an annual excise tax on yachts. Sources say Isabel sold for something in the neighborhood of $7 million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000.
The senior senator’s chief of staff David Wade denied the old salt was berthing his boat out of state to avoid ponying up to the commonwealth.
The rest of the article is at:
http://bostonherald.com/track/inside_track/view.bg?articleid=1269698Now, in fairness to the now-senior Senator from Massachusetts, on the page I linked to is a link to a story where he now says that he will pay "if 'taxes are owed.'" Which means, since he docks the thing in Rhode Island, that there aren't any. What a hypocrite.