New York Imposes $10 Million Tax Bill on Connecticut-based Hedge-Fund Manager

Assessment was largest deficiency imposed in decades on taxpayer found to be a ‘statutory resident’ of New York state, while living elsewhereNew York officials railed against “double taxation” after the U.S. Congress tax overhaul limited how much residents could deduct in state and local taxes from their federal tax bill.

But that didn’t stop New York from imposing a $10 million bill for back taxes and interest on a Connecticut hedge-fund manager, who also paid taxes to Connecticut on the same income.

It seems like year after year he wasnt telling his tax accountant about the days he was spending in NY. If your making that type of money there has to be residency conversations with your tax accountant. It his and the firm that was doing his tax compliance work fault.

He should have sold all of his northern properties and moved to Florida.

So the guy bought a house out of state to try to avoid NY taxes while still having a house in NY and they caught him at it. Cry me a river

Jayanta baruah's Slaver,classless dy 366 , pratidin time's psycho made Mrinal and assam govt.'s psycho made Himanta why not jointly public asomiya khabar's'CorruptionVideo'from 2011 to 2020 ? Mr.Utpal Deka's whitout permmistion why prepared corruption video & why announced ?

Trump's tax scam makes people in these states pay federal taxes on the same income that was taxed at the state level. State taxes used to be deductible from federal taxes. Now there is a cap on what can be deducted.

Love socialism, stay in NY & CT

Leave NY

lol owned

Also NY: 'we need to figure out what is causing our highest earners to flee'

Florida says, “Come on down!”

Dying blue states getting desperate.

Double taxation?

Bobby Axelrod?

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