July 28, 2010
Sen. Kerry Abandons (Tax-Dodge) Ship, Agrees to Pay $500k MA Tax on YachtFollowing up on my prior posts:
- Sen. John Kerry Skips Town on Sails Tax (July 23, 2010)
- Sen. Kerry Sails Around the Tax Issue (July 27, 2010)
Sen. Kerry announced yesterday that he would pay over $500,000 in Massachusetts taxes on his $7 million yacht ($437,500 in state use tax, $70,000 in annual state excise tax): "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. That payment is being made promptly."
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Surely, a graduate of Boston College Law School, after reading the state sales tax law, knowing that his boat had been in Massachusetts in the first six months, and spotting the revenue agent standing on his porch, could figure out that the sales tax is really due. However, it's amazing that Kerry continues to question the tax while "pledging" to pay half-a-mil "just in case." Hey, quit stalling with this pledge business and just write the check. Now, what do you want to bet that he's going to ignore or dispute the late penalty and annual excise tax?
Posted by: Woody | Jul 28, 2010 3:16:38 PM