It’s been more than three months since we first told you about Capt. John Kerry’s high-seas tax dodge on his new $7 million yacht, Isabel, and the town of Nantucket still doesn’t have a check from the senior senator!
You may recall that Kerry lowered the flag and surrendered in July, agreeing to pony up more than $400,000 to cover state taxes on the toney tub. Mr. Teresa Heinz broke out the checkbook four days after the Track set off a furious tempest with our report that he had purchased the 76-foot floating palace and ported her in Rhode Island, thus depriving the commonwealth of its pound of flesh.
A spokesman for the state Department of Revenue confirmed that “a sales tax return was filed” by Kerry last summer to cover state taxes that would have been owed, had he kept the Isabel in his home state’s waters. But according to the Nantucket tax collector, he never paid any excise taxes to the town on the Isabel.
Now, in case you forgot, Kerry’s yacht is a New Zealand-built Friendship sloop with an Edwardian-style, glossy varnished teak interior, two VIP main cabins and a pilothouse fitted with a wet bar and cold wine storage. We point this out because the excise tax on boats is $10 per thousand of valuation. However, the state caps the assessment on yachts over 60 feet that are less than four years old at $50,000. Which, if you ask us, seems rather foolish . . .
So, the $7 million Isabel, for excise tax purposes, is worth just $50G, meaning, should Kerry decide to pony up, he’d owe just $500 to the island’s tax coffers. Chump change for Jawn and Ta-ray-za!
Anyway, Kerry’s flack Jodi Seth told us the senator hasn’t paid because he hasn’t received a bill. Which is very different from what Kerry said last summer. Back then the story was that the senator would pay all the taxes as if the boat were berthed in Massachusetts.
Friday, November 05, 2010
Shocker: John Kerry Still Hasn't Paid His Luxury Yacht Tax
I guess taxes are for the little people.