NEW YORK -- 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.
I don't think anything will come of this...assuming Jeter didn't blow all of his cash. Then there might be some trouble.
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A strong message should be sent to tax delinquents. Jeter, should he be found guilty of not paying hundreds of thousands if not millions in taxes , should have to go to Rikers Island. Forget fines, he has the money. Sending him to prison would send a strong message.
We'll see what comes of this. My guess is that Jeter established residency in Florida, based on the advice of his tax attorney and CPA. Just because the state tax board says he owes more money and is a resident of the state doesn't make it true.
In some ways, I kind of hope the state wins because it makes states with relatively low taxes and no state income look better (like Texas, where I live), so that companies and people want to move here, which obviously helps our economy and tax base. And, a high publicity case like this will only hurt New York more than it helps it, at least in the long-run.
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