TLP: Yeah, But What About His Windsurfer?
If you owned a $7 million yacht and there was a chance it could be confiscated while certain tax questions are worked out, what would you do? If you're John Kerry, you drop a check for $500,000 in the mail to the Massachusetts Department of Revenue. You know, just in case.
Sen. John Kerry will voluntarily pay $500,000 in taxes to the state of Massachusetts - a move that forestalls a potential investigation into whether the Bay State's senior senator attempted to evade the hefty levy by docking his $7 million yacht in Rhode Island.So much easier to make that call when you're sitting on about $200 million. But still, nice gesture.
"We've reached out to the Massachusetts Department of Revenue and made clear that, whether owed or not, we intend to pay the equivalent taxes as if the boat's home port were currently in Massachusetts," Kerry said in statement. "That payment is being made promptly."
The decision came after Kerry faced a series of questions over why the Massachusetts Democrat decided to dock his new multi-million dollar sloop in neighboring Rhode Island even though it had been reportedly spotted in Massachusetts waters and Kerry maintains residences in Boston and Nantucket.
Rhode Island has been known as a tax-haven for boaters after the state repealed its sales and use tax on boats in the early 1990's. Kerry, who recently purchased the 76-foot yacht in Rhode Island, therefore avoided close to a half-million in taxes.