Super gazillionaire Teresa Heinz and also extraordinarily wealthy hubby Senator John Kerry have a new yacht which berths in Newport, Rhode Island, not Nantucket, Mass where the couple summers. The craft is fabulously expensive and would have cost the Kerry's a six-figure sales tax hit had they berthed the "Isabel" at their summering spot in Nantucket.
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 $7 million, meaning Kerry saved approximately $437,500 in sales tax and an annual excise tax of about $70,000.An ANNUAL excise tax? Oh well, they can afford it (that's the Liberal view when it's a conservative being taxed) but dang! that's unAmerican (that's the conservative viewpoint no matter who is buying).
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 wet bar and cold wine storage - was designed by Rhode Island boat designer Ted Fontaine.