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| Boat Fishing & Boating A new forum at Striped-Bass.com for those fishing from boats and for boating in general |
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09-29-2011, 09:42 AM
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#1
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D'oh
Join Date: May 2004
Location: RI
Posts: 3,296
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large yachts will be owned by foreign shell companies and will fly that country's flag. BVI, Caymans, etc.
then then don't have to comply to all of the same rules we have, like hiring only american crew, safefty inspections, etc..
But I think that there are huge duties they have to pay if they sell to a US company/citizen.
That is my best guess.
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i bent my wookie
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09-29-2011, 12:08 PM
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#2
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by zacs
large yachts will be owned by foreign shell companies and will fly that country's flag. BVI, Caymans, etc.
then then don't have to comply to all of the same rules we have, like hiring only american crew, safefty inspections, etc..
But I think that there are huge duties they have to pay if they sell to a US company/citizen.
That is my best guess.
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They can sell to a US citizen, just in a non-US location.
Avoids taxes etc. |
Ski Quicks Hole
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09-29-2011, 06:33 PM
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#3
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Shorts and Sandals
Join Date: Jan 2003
Location: southeastern mass
Posts: 597
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last time i was in Ft Lauderdale most of the yachts had SA for their port not USA. Thats how the rich folks beat paying luxury tax. Just ask Sen Kerry he can explain it to you. You know they want to eleminate mortgage interest and real estate tax as tax deductions so they wont have to raise taxes on the rich. We need a tax revolution.
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09-30-2011, 08:22 AM
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#4
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by NEXT2NUN
Thats how the rich folks beat paying luxury tax. Just ask Sen Kerry he can explain it to you.
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Kerry's yacht is US flagged, registered in RI. Huge difference here.
John Henry's yacht isn't US flagged. 
Last edited by likwid; 09-30-2011 at 08:30 AM..
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Ski Quicks Hole
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09-30-2011, 10:37 AM
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#5
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Registered User
Join Date: May 2003
Location: Easton, MA
Posts: 5,737
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Quote:
Originally Posted by likwid
Kerry's yacht is US flagged, registered in RI. Huge difference here.
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Yeah, Kerry only saved about half a million in sales tax by registering it in RI and also doesn't pay any yearly excise tax by keeping it there. |
Conservatism is not about leaving people behind. Conservatism is about empowering people to catch up, to give them tools at their disposal that make it possible for them to access all the hope, all the promise, all the opportunity that America offers. - Marco Rubio
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09-30-2011, 04:59 PM
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#6
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Shorts and Sandals
Join Date: Jan 2003
Location: southeastern mass
Posts: 597
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Quote:
Originally Posted by fishbones
Yeah, Kerry only saved about half a million in sales tax by registering it in RI and also doesn't pay any yearly excise tax by keeping it there.
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Thanks Fishbones. Point I wastrying to make is that their not paying their fair share |
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09-30-2011, 08:08 PM
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#7
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lobster = striper bait
Join Date: Jul 2002
Location: Popes Island Performing Arts Center
Posts: 5,871
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Quote:
Originally Posted by NEXT2NUN
Thanks Fishbones. Point I wastrying to make is that their not paying their fair share
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Hit New England Boatworks, the old Hood yard next door, both in Portsmouth and Newport Shipyard.
Nobody is paying their "fair share". |
Ski Quicks Hole
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