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
Could the reason be that the Ocean State repealed its Boat Sales and Use Tax back in 1993, making the tiny state to the south a haven - like the Cayman Islands, Bermuda and Nassau - for tax-skirting luxury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 $7million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000.
Plus
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.
Senator Kerry I get that you and the Mrs. wanted to avoid a hefty tax bill. Who wouldn't? But you ran for president demonizing companies that were "shipping jobs overseas" and you have your yacht built in New Zealand. You couldn't find a single shipyard in the U.S. that could build your pleasure boat and put some Americans to work? There is a reason that sailing trophy is called the America's Cup, we have a rich heritage of building the best boats in the world.
Now maybe the Herald is missing a major scoop here and you are planning to relocate to Newport permanently. After all, now that you lost the fight to keep Cape Wind from being built and the views in Nantucket sound will soon be despoiled, it's time to find a more pristine sailing locale. Or maybe you're growing bored coasting to re-election every six years and you believe a primary fight with "Big Sheldon" Whitehouse is just the ticket to get your mojo back?
However,if you plan on staying in MA pay your "fair share".
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