/ Source: The Associated Press
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 spoke to reporters Monday after an event at the former South Weymouth Air Station.
Kerry has come under fire in recent days for docking the 76-foot, New Zealand-built sloop in neighboring Rhode Island, saving roughly $500,000 in Bay State taxes.
If the "Isabel" were docked at the couple's summer vacation home on Nantucket, Kerry's family would be liable for $437,500 in one-time sales tax. They'd also have to pay $70,000 in annual excise taxes.
Kerry said his family will pay their taxes and it wasn't an issue.
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Information from: NECN.
