Kerry's yacht escapes Mass. taxes

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July 23, 2010, 1:17 pm
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(NECN: Alison King, Boston, Mass.) - The docking of Sen. John Kerry's (D-Mass.) yacht has come under question.

He is docking his family's new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to the cash-strapped Bay State.
If "Isabel" were kept at his vacation home on Nantucket or in Boston Harbor near his Massachusetts home, he would be liable for $437,500 in one-time sales tax. He would also be required to pay $70,000 in annual excise tax.

A Kerry spokesman said the boat is being kept at Newport Shipyard not to evade taxes, but for "long-term maintenance, upkeep and charter purposes."

NECN political reporter Alison King caught up with Senator Kerry this afternoon.

Candidate for state treasurer Karyn Polito said in a statement that an investigation to should be undertaken:

"In the interest of fairness to all taxpayers, and in order to collect the revenue it may be owed, the state Department of Revenue should undertake an immediate investigation of whether Senator Kerry sought to avoid the payment of Massachusetts sales and excise taxes in the purchase of his boat, 'Isabel.' No person is above the law. For people to have confidence that the law is being applied equally, they need to be reassured that Senator Kerry is not receiving favorable treatment."

Tags: rhode island, John Kerry, taxes, Newport, Alison King, yacht, Isabel
No arrests have been made
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