WEYMOUTH, Mass. — Sen. John Kerry says he is docking his family's new $7 million yacht in Rhode Island so it could have work done before moving it to Massachusetts to be available for charters.
The Massachusetts Democrat has come under fire for docking the 76-foot, New Zealand-built sloop in Rhode Island, saving roughly $500,000 in Bay State taxes.
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If the "Isabel" were docked on Nantucket, Kerry would be liable for $437,500 in one-time sales tax. He'd also have to pay $70,000 in annual excise taxes. Kerry said he will pay the taxes.