TRUMP YACHT SLIPS AWAY FROM $2 MILLION IN TAXES

Developer Donald Trump, already a millionaire many times over, will save almost $2 million by avoiding New Jersey's 6 percent sales tax on his $29 million yacht, the Trump Princess. The state Division of Taxation reviewed the lease arrangement between Trump's Aliban Inc. corporation, which owns the Princess, and Trump's Castle Associates, which leases it at $400,000 monthly. The division recently concluded that only the monthly lease payments are subject to the sales tax, or about $24,000 a month. The sales tax on the yacht would have amounted to $1.74 million. The 282-foot yacht - complete with a discotheque, movie theater and hand-carved onyx bathrooms - is used for promotional and marketing purposes and to entertain high rollers. Trump bought the ship from the sultan of Brunei.