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post #82 of Old 02-04-2020
Minnewaska
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Re: Best Eastern Seaboard State for Sales Tax

Quote:
Originally Posted by Minnesail View Post
I hadn't heard about the Kerry thing until today, but this sounds about right. He bought the boat in RI and kept it in RI. It was only in MA briefly. This looks more like tax avoidance than tax evasion. It wasn't the department of revenue that went after him and caused him to pay the taxes, it was the media that went after him.

John Kerry Takes on Water Over Yacht Controversy
Kerry Agrees to Pay Massachusetts Tax on Yacht Docked in Rhode Island...
I guess everyone has the right to see it anyway they like. This was an attempt at tax avoidance and would have been just fine, if the boat stayed in R.I. However, he lives in Mass and used it there. Iím not looking up the Mass rules, but itís common there is no waiting period to owe use taxes for a given States residents. The media doesnít likely understand these rules any better than most on the forum. The grace for the sales tax and use tax are two different things.

The trick to have it owned by a PA Corp is also irrelevant. It only matters where the asset is and for how long.

There is no doubt Kerry blew this one. Folks are caught doing it around here all the time.


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