New York has imposed a $10 million tax bill on a Connecticut-based hedge-fund manager who also paid taxes to Connecticut on the same income
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.
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