Senator John Kerry found himself in a tight situation yesterday at an event when asked why he docked his $7 million yacht "Isabel" in Rhode Island rather than his home state of Massachusetts. "There's nothing more to say about it," Senator Kerry told reporters yesterday. Apparently, last week, when the story broke, Kerry's office said, "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." A brand new yacht clearly needs the maintenance and upkeep only a Rhode Island service dock can provide. He wasn't ducking the $500,000 in luxury taxes and $70,000-a-year excise tax at all.
Even more hilariously, when asked if he berthed the boat in Massachusetts? he replied, "That depends on who owns it." Then, he told his driver to get him out of there. Apparently Kerry would be liable for Massachusetts taxes if he berthed the boat in the state within six months of its purchase, but something tells me he knows that.
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