Greenwich hedge funder must pay $10M in NY taxes, judge rules

TRD TRI-STATE /
Jan.January 29, 2020 01:39 PM

(Credit: Famartin)

The state of New York imposed around $10 million in taxes and interest on the investment income of a hedge fund manager who lives in Greenwich after a judge ruled that he was also a “statutory resident” of New York, the Wall Street Journal reported. The assessment was “the largest deficiency imposed in several decades” on a non-New York resident found to be a “statutory resident” of the state, the outlet reported. The hedge funder, David Russekoff, owned a home on Shelter Island at which he spent more than 183 days each year. Russekoff’s attorney argued that his intangible investment income should have only been taxed in Connecticut, but the judge’s decision stated that the “location of the intangible personal property is not relevant to the imposition of tax in this case.” [WSJ]


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