Kerry Saves Almost $500,000 By Keeping His Yacht In RI Instead Of Nantucket
Now, they make an interesting excuse. The company that sold and can service the ship are located in Rhode Island. They say it has nothing to do with avoiding the taxes.
Of course, in 6 months, he will have avoided the tax and can move the yacht back to Nantucket without concern for taxes. I guess we will know in 6 months if he is telling the truth or not. Write it on your calendar.
John Kerry, who fights on behalf of the little people on whose backs the rich get richer by avoiding taxes most Americans can’t afford to dodge, is seeing to it that the little people aren’t burdened by an extra $500k in his home state’s tax coffers.
From the Boston Herald:
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Could the reason be that the Ocean State repealed its Boat Sales and Use Tax back in 1993, making the tiny state to the south a haven – like the Cayman Islands, Bermuda and Nassau – for tax-skirting luxury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?