November 16, 200718 yr New York Yankees captain Derek Jeter has landed in tax trouble with the state of New York. State officials say the shortstop owes the state back taxes for claiming to live in Florida when his actual residence is New York City. The claim could cost Jeter millions of dollars. Jeter's agent, Casey Close, has said that his client has made his home in Tampa, Fla., since the mid-1990s, but state officials claim that between the years of 2001 and 2003 Jeter was in fact a New York state resident and should have been paying state income tax. Florida residents do not pay state income tax. Jeter has owned an apartment in Trump World Tower in New York City since October 2001. As part of its assertion of the player's New York residency, the New York State Division of Taxation and Finance noted that Jeter has personal items that are "near and dear" in this apartment, according to The Associated Press. Judge Timothy J. Alston, however, asked the department for more specifics with respect to its claim that Jeter has "immersed himself in the New York community," and in a five-page order dated Nov. 7, Alston told the department it must provide Jeter with a more detailed document specifying his "community involvement in jurisdictions other than Florida" and "public statements regarding his desire to be in New York," according to AP. The Yankees' contract with Jeter called for him to receive salaries of $11 million in 2001, $13 million in 2002 and $14 million in 2003, with a $16 million signing bonus to be paid sometime before June 2008, according to AP. http://sports.espn.go.com/mlb/news/story?id=3113901
November 16, 200718 yr New York State is a horrible place for taxes. I was a student there for law school and worked a summer in my state of residence, Florida. They tried to make me pay taxes for money I earned in my state of residence! Complete BS. He's probably not a resident, but they want to collect all kinds of taxes from him because he makes a lot of money.
November 16, 200718 yr Author New York State is a horrible place for taxes. I was a student there for law school and worked a summer in my state of residence, Florida. They tried to make me pay taxes for money I earned in my state of residence! Complete BS. He's probably not a resident, but they want to collect all kinds of taxes from him because he makes a lot of money. :blink:
November 16, 200718 yr Taken from SOSH: "Please. Jeter has had a home in Tampa since 1994. what is at dispute is he spent more time than usual in New York from 2001-2003. It's just the tax man trying to get more money out of a person. Millions of dollar in revenue. Should Jeter have to pay state taxes in two states? (i know Florida doesn't have a state income tax, but if they did, where does he pay? New York or Florida, or some other state? ) Do you guys honestly believe that Jeter doesn't know the law? His position is that he is a resident of Tampa, Fla. He does business in New York. New York feels he spent enough time in New York to be a resident. It's in dispute. A judge will decide the merits and rule. This happens a lot, especially when rich people have the means to live in a no state income tax state. " "Jeter's agent, Casey Close of Creative Artists Agency Sports, disputed tax officials' claim that the baseball star lived in New York during the time in question. "As a Yankee, Derek has great affection for the people of New York and its amazing fans, but since the mid-1990s, he has made his home in Tampa, Florida," Close said in an e-mail to FOXNews.com.?|" Jeter's saying he doesn't have to pay income tax in a state in which he's not a resident. New York says he does. There is a dispute. We'll see who ends up being right.
November 16, 200718 yr NY taxes blow - i was always a NY resident throughout college and even after college when I moved to MN - tax season sucked - didn't earn a dollar in NY but they took a large cut
November 16, 200718 yr As a New Yorker I can tell you 1st hand that our taxes blow all the way across the board. We are the most taxed state in the country and have an active and aggressive tax department that will hunt you down. On the one hand, it's good to know they are doing their job. On the other hand - they can suck a nut.
November 16, 200718 yr My dad had the Live-in-New-Jersey, Work-in-New-York tax situation for years. He tells me that when he would sit to do his returns, it really hurt. I think some years, between state/federal/property taxes, he said he would pay 30% of his income. Considering he was a transit worker who made whatever the State-designated pay scale told him he could make, that was shocking.
November 17, 200718 yr If Bonds and Jeter are guilty I think cheating taxpayers of millions is a much bigger deal than taking steroids and lying under oath about it.
November 17, 200718 yr If Bonds and Jeter are guilty I think cheating taxpayers of millions is a much bigger deal than taking steroids and lying under oath about it. Spoken like someone who has never done their own taxes before. :thumbup I have zero problems with exploiting legal loopholes in our tax system. If I could get away with it? I'd establish legal residency in Florida too...
November 17, 200718 yr If Bonds and Jeter are guilty I think cheating taxpayers of millions is a much bigger deal than taking steroids and lying under oath about it. Spoken like someone who has never done their own taxes before. :thumbup I have zero problems with exploiting legal loopholes in our tax system. If I could get away with it? I'd establish legal residency in Florida too... I have no issues exploiting loopholes as well. If Jeter was not a NY resident he should not be liable for NY income taxes however if he was a NY resident in accordance to the NY guidelines and he didn't pay then he should. Do you disagree with this?
November 17, 200718 yr Author Not to create some pseudo criminal power rankings but lying under oath destroys a basic fabric of our legal system. Undermining that is far more serious in my mind. I'd be absolutely stunned if Jeter is found to be doing wrong, or if he felt he was exploiting something, or he didn't have a handle in the situation. I think he is a smart man who more than likely has the best financial advisers that money can buy around him.
November 17, 200718 yr They should be careful not to piss him off. He may take his ball and go home. To Tampa, that is. :mischief
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.