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Sen. John Kerry's yacht, Isabel, undergoes warranty repairs in Portsmouth, R.I., Friday. It will be based in nearby Newport, potentially saving Mr. Kerry a $437,500 Massachusetts sales tax and $70,000 in annual state excise taxes, which he says he'll pay anyway. (Associated Press)

Sen. John Kerry's yacht, Isabel, undergoes warranty repairs in Portsmouth, R.I., Friday. It will be based in nearby Newport, potentially saving Mr. Kerry a $437,500 Massachusetts sales tax and $70,000 in annual state excise taxes, which he says he'll pay anyway. (Associated Press)

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