Kerry taxes yacht

Author: hywy

August undefined, 2024

Bewering: John Kerry, who was selected by U.S. President-elect Joe Biden to serve as climate envoy, owns six homes, two yachts, 12 cars, and a private jet. Web6 dec. 2024 · Mass. Senator John Kerry was then docking his family’s new $7 million yacht in neighboring Rhode Island, allowing him to avoid paying roughly $500,000 in taxes to …

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Web27 jul. 2010 · News that Kerry was docking the 76-foot custom-built sloop in Newport, R.I., was first reported in the Herald Friday. Sources told the Herald the yacht cost $7 million, meaning Kerry would owe the state … WebIt allows a taxpayer to deduct the cost of certain types of property (such as a yacht) on their income taxes as an expense, rather than requiring the cost of said property to be capitalized and depreciated. As of January 1, 2024, under section 179(b)(1), the maximum deduction is capped at $1,000,000 per year. clearbrook pennsylvania

Sen. Kerry docks yacht in R.I., saves on taxes RallyPoint

WebMassachusetts Sen. John Kerry is docking his family's new $7 million yacht in neighboring Rhode Island, saving roughly $500,000 in Bay State taxes. "Isabel," the 76-foot yacht … Web28 jul. 2010 · BOSTON Sen. John Kerry moved to end a controversy over his decision to base his new $7 million yacht in tax-free Rhode Island, informing the Massachusetts Department of Revenue on Tuesday that he would promptly pay taxes as if the vessel were docked in his home state. In a statement to The Associated Press, the Democrat said, … Web24 jul. 2010 · Times are tough for everyone. Including gazillionaire John Kerry. The Massachusetts senator is under fire for docking his brand new $7-million yacht in Rhode Island. It’s not illegal to moor... clearbrook plaza post office

Sen. John Kerry buys $7 Million Yacht. Creates no American Jobs.

Does John Kerry Own Multiple Houses, Cars, and Yachts?

Web24 jul. 2010 · That means Kerry would owe approximately $437,500 to his cash-strapped home state. Nantucket, his summer playground, would be due annual excise taxes of about $70,000. “Sen. Kerry and his... WebQuestion: Massachusetts Senator and one-time presidential candidate John Kerry understand the concept of tax avoidance. Kerry avoided paying $500,000 in taxes in Massachusetts by docking his yacht in Rhode Island. Rhode Island repealed sales taxes and annual excise taxes on yachts in 1993, making “the state something of a nautical … clearbrook plumbingWeb24 jul. 2010 · John Kerry recently purchased a new yacht for $7 million and is berthing this new vessel in Rhode Island to avoid paying $500,000 in taxes to the state of Massachusetts. I find this story interesting and relevent for a couple of different reasons-- one national and one local. First the national issue: We… clearbrook plaza

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Kerry taxes yacht

John Kerry’s Tax Haven Investments and other Examples of Statist ...

Web27 jul. 2010 · Doing so spared Mr. Kerry a $437,500 one-times sales-tax charge in Massachusetts as well as about $70,000 in annual excise taxes. Rhode Island repealed … Web27 jul. 2010 · A A. Sen. John Kerry moved to end a controversy over his decision to base his new $7 million yacht in tax-free Rhode Island, informing the Massachusetts …

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Web29 jul. 2010 · Sen. John Kerry on Monday snapped at reporters and tried to dodge questions about his new $7 million, 76-foot yacht. On Friday, the Boston Herald reported that the Massachusetts Democrat had berthed his yacht Isabel in Rhode Island and suggested he was seeking to avoid paying about $437,000 in sales tax and an annual … Web27 jul. 2010 · Explaining Kerry's Yacht-Tax Dodge. The Boston Herald is keeping the heat on Senator Kerry about the half-million dollars in excise and in sales-and-use taxes he …

Web28 jul. 2010 · U.S. Senate Kerry Agrees to Pay Massachusetts Tax on Yacht Docked in Rhode Island. Sen. John Kerry tried to sail, but he couldn't hide. The Massachusetts senator, after an uproar in his home state over the decision to dock his new $7 million yacht in tax-free Rhode Island, told his state's tax collector Tuesday that he would "promptly" … Web23 jul. 2010 · Yacht owners in Massachusetts are obligated to pay a 6.25% luxury tax for their fancy floating homes. Well, unless their name is John Kerry, apparently (Boston Herald link);Isabel – Kerry’s luxe, 76-foot New Zealand-built Friendship sloop with an Edwardian-style, glossy varnished teak interior, two VIP main cabins and a pilothouse fitted with a …

WebEssentially Mass is saying their taxes apply even if you sail into Mass once or twice and the boat is in rhode island 99% of the time. Most people would agree that if the boat is in Rhode Island most of the time and is in Mass on a few weekend sailing trips, it shouldn't be covered under Mass taxes. And keep in mind Kerry doesn't own the boat. Web23 jul. 2010 · Cash-strapped Massachusetts still collects a 6.25 percent sales tax and an annual excise tax on yachts. Sources say Isabel sold for something in the neighborhood of $7million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000. Plus

Web28 jul. 2010 · Sen. John Kerry, D-Mass., said he would voluntarily pay $500,000 in taxes to the state of Massachusetts for his new $7 million yacht after the state s Department of …

Web23 dec. 2015 · Sen. John Kerry tried to sail, but he couldn't hide. The Massachusetts senator, after an uproar in his home state over the decision to dock his new $7 million yacht in tax-free Rhode Island,... clearbrook plaza abbotsfordWeb25 jul. 2010 · Kerry, who has homes in Nantucket and Boston, docks his family's new $7 million yacht in Rhode Island. Doing so allows him to avoid paying about $500,000 in taxes to Massachusetts. Bay State... clearbrook post office hoursWebOK, Sen. John Kerry is tired of all the yacht tax questions. Kerry announced this afternoon that he's paying all Massachusetts taxes due on his new $7 million yacht even though it's docked in Rhode Island, where he bought it and which doesn't collect sales tax on luxury vessels. Rough calculations mean that Kerry will hand over to Bay State tax officials … clearbrook police department