Posted on 02/09/2015 12:47:02 PM PST by Olog-hai
If you’re a billionaire living in Connecticut, chances are the tax department is keeping an eye on you.
In a state home to some of the richest Americans, tax officials go to some lengths to keep them—or, more accurately, keep the billions of dollars in revenue their income taxes generate.
Connecticut tax officials track quarterly estimated payments of 100 high net-worth taxpayers and can tell when payments are down. Of that number, about a half-dozen taxpayers have an effect on revenue that’s noticed in the legislature and Department of Revenue Services. […]
Two years ago, tax officials were alarmed that a super-rich hedge fund owner might leave and reduce the state’s income tax revenue. They met with the unidentified taxpayer to stay. The effort was partly successful, with the taxpayer leaving Connecticut but agreeing to keep the hedge fund here. …
(Excerpt) Read more at hosted.ap.org ...
“It was supposed to be a temporary, stop-gap tax.”
Yeah, here in NJ the tolls on the Garden State Parkway were supposed to pay for the construction - 60 years ago. Now they are just an added tax, with no discussion of eliminating them.
NJ also has a problem keeping wealthy people; how long do you expect each household to foot the bill for one welfare family, one illegal “family” with anchor baby, one public school teacher, and one miscellaneous municipal/county/state worker?
New York’s budget problem is so extreme that back when the banks were bailed out, both the governor and the NYC mayor were begging the banks to pay bonuses to their staffs - regardless of whether they merited them or not. Both needed the tax revenues so badly; the circumstances were irrelevant. If bailout money needed to be transferred from taxpayers across the country to the coffers of New York state and city, then so be it...
That’s income earned in the state, so it is legal.
I believe there was pressure from Howie Carr and others that finally forced Kerry to register his yacht in MA, but I am not sure.
LOL! Some of the “rich” think they are immune from these POS socialists/totalitarians.
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