Do you feel like paying a $437,500 state tax bill, as well as $70,000 (!) in annual excise taxes on your new $7 million yacht? Well if you don’t, then do what tax-happy Massachusetts Senator John Kerry does. Just berth it somewhere else.
It turns out it was cheaper to park his brand new, kinda crappy looking yacht “Isabel” in Rhode Island because the tiny state with a big heart did away with those nasty taxes in 1993, making it a hive of villainy and yacht parking for tax rebels. All right, so I admit it’s not exactly Mos Eisley but trust me, when you’re sexy like me, you don’t wanna walk around there alone at night.
Take it away, Kerry chief of staff David Wade:
“The boat was designed by and purchased from a company in Rhode Island, and it’s based in Newport at the Newport Shipyard for long-term maintenance, upkeep and charter purposes, not tax reasons.”
My, what a happy coincidence that is! But Bobby Bliss, the Massachusetts Department of Revenue spokesman, is not amused:
However, according to Bliss, if Kerry berths the Isabel in Massachusetts waters within six months of purchasing the boat, there’s a “presumption of use” and the Heinz-Kerrys would have to walk the plank and pony up to the Bay State. After six months, should the boat change its berth to, say, Nantucket, then it’s up to the state to go after them for the taxes, Bliss added.
Haha! Walk the plank! And I’m gonna guess that whole berthing it in Massachusetts thing isn’t gonna happen anytime soon. Because 500 grand is a lot of money, especially for a “common guy” like John Kerry.
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Methinks that the yacht belongs to Teresa (aka Mrs. Moneybuckets) and she decides where its berthed.
Yup, those same Democrats who want higher taxes for everyone else are unwilling to pay theirs.
Does not matter whose boat it is. The fact is, kerry was so out there during his campaign about being just a regular guy, you know, one who can afford 7 mansions and a $7 million boat. Just another way to avoid paying taxes. I bet he will come out later and say “It was an honest mistake” like the rest of Obama’s Administation.
Well to be fair… He probably only lives in Massachusetts cause he has too. Why else would anyone wanna live in that crap-hole? Regardless, he’s a tool.
And the boat may have been purchased from a company in Rhode Island, but it was made in New Zealand.
John Kerry is a common man….
Who likes to merry very rich women.
Of course, I’m sure that wasn’t to help fuel his political agenda, or anything.
And this is what happens when you overtax the rich. They can buy their crap anywhere and can afford to stash it anywhere.
In RI cars have a luxury tax, but not boats go figure! Most of the larger ships in Newport and rest othe state are from out of state
Taxes are for the little people. Ask Kerry, Geithner, Rangel, Dodd, Jefferson, etc.
Reminds me of the Alec Baldwin “little pig” interview:
Basically, this is like an anti-abortion Republican having his mistress get an abortion. Get it now?
I’m sure he’ll commute to his boat in a helicopter, meanwhile him and Liebermann are pushing Cap’n Trade II.
I don’t really see why this is a big story. It’s a complete politically motivated issue probably being carried about by the right-wing which holds some of the most corrupt people to ever of walked this earth.
Big-Cruise practice the same thing by docking their boats off different coasts to avoid paying fees. We all know the major cruise lines we have but all the ones that I see have their boats registered off international shores.
We can compare this to celebrities like Tiger Woods whom when all that came out about him didn’t even have a ‘home address’ in this country since he was bouncing between everything. There was something funny about his boats registration as well. This of course is relevant when it comes to tax time.
Im all for bashing the politicos however when it comes to this type of activity it’s all through washington from the IRS to joe the local mayor.
“I don’t really see why this is a big story.”
Because big cruise lines, and Tiger Woods don’t have the ability to raise my taxes, while dodging paying those same taxes themselves. If paying taxes is no big deal, then maybe Frankenstein up there can cough up the $500 large, which probably amounts to several weeks interest income to him.