John Kerry, the Massachusetts senator has a lot of money. And that would be the understatement of the century. But anyway, the man has recently bought a $7 million yacht. But that is not what is news. The thing is that he has docked this luxury yacht in Rhode Island and not his own state of Massachusetts.
Now Rhode Island has abolished a tax on the purchase and use of yachts, whereas in his home state he would have had to pay no less than $50,000. So people are accusing him of doing this in order to save that tax money. But Kerry and his spokesperson have clarified that the boat was bought in Rhode Island and so it only makes sense that the boat be docked over there. “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.â€
But it seems that the boat was sighted in Nantucket over the Fourth of July holidays. So according to the law that states that, “if a boat owner berths the vessel in Massachusetts waters within six months of purchasing the boat, there’s a ‘presumption of use,’ and the owner must fork over the 6.25 percent sales tax to the commonwealth.† Hence, Kerry would have to cough up some money afterall.
Via: latimes
