Discussion:Derek Jeter - A Florida Resident?
From TaxAlmanac
Discussion Forum Index --> Basic Tax Questions --> Derek Jeter - A Florida Resident?
Discussion Forum Index --> Tax Questions --> Derek Jeter - A Florida Resident?
| 17 November 2007 | |
| Interesting article on Derek Jeter's recent New York tax issues. | |
| 17 November 2007 | |
| Typical Fox. The issue is whether NYS can prove (because they have the burden) that Jeter's purchase of a dwelling unit in NYC somehow constitutes an intent to change domicile. There is no question that he spends less than 183 days in NY in any given year. I think the state has a weak case. | |
Death&Taxes (talk|edits) said: | 18 November 2007 |
| Members of New Jersey's Enrolled Agent group regularly received interesting tidbits from our president. In one sent today, he prints the latest developments from Jeter's petition for redetermination of deficiency. Jeter's lawyers appear to be asking for clarifications of certain points raised by New York, a 'demand for a bill of particulars.'
I found the most interesting point raised by New York to be "He keeps certain personal items in his home. . . He has immersed himself in the New York community. Additionally, he has made numerous public statements professing his love for New York." I would hope for his sake television commercials showing him popping in and out of restaurants in New York will not help the State with its case. | |
Corptaxhelp (talk|edits) said: | November 18, 2007 |
| "he has made numerous public statements professing his love for New York"
That's the best they can do? (I have made numerous public statements professing my love for Angelina Jolie but I'm no closer to being a resident of her, er, house.) | |
| 19 November 2007 | |
| The primary criteria for determination of a taxpayer's domicile in New York, agreed to by all of the members of the North Eastern States Tax Officials Association (NESTOA) in 1996, are:
(1) Home: Location, owned or rented, relative size and value, use as compared to other places of abode (2) Time spent (3) Items "near and dear": location of items of significant sentimental value or items that enhance the qualify of life (4) Active business involvement (5) Family connections (used when the first four factors are not conclusive) A $13 million apartment (compared to what in Florida?) and extremely lucrative employment by a New York team are fairly significant New York ties. You can see why the state is looking at items "near and dear"; that is one of their criteria. It's hard to evaluate this case based on the fragmentary information available, but I'd say the state has a reasonable position. The burden is on them, though, to show the change of domicile, and to show when it occurred. I think the state has a pretty tough row to hoe here, because many of their allegations appear to be very vague. Of course we don't know what facts underlie those allegations. | |
| 19 November 2007 | |
| Thinking further about this ... there are a raft of NY cases determining that a taxpayer who had been a NY domiciliary did not make an effective change of domicile to Florida (or wherever, but usually Florida!) because he or she failed to abandon ties to NY. Those cases can easily be turned around on the Department. If Jeter has not abandoned his Florida domicile, he hasn't taken the first step toward a change.
I agree with Dennis, the Department should lose this one. | |
| 20 November 2007 | |
| SINCE DEREK PLAYS HALF HIS GAMES IN NEW YORK WOULDN'T AT LEAST HALF HIS SALARY BE SUBJECT TO NY INCOME TAXES REGARDLESS? DON'T MAJOR LEAGUERS HALF TO SPLIT THEIR ANNUAL SALARIES BY THE DIFFERENT VENUES THEY PLAY? | |
Wkstaxprep (talk|edits) said: | 20 November 2007 |
| yes, jeter indeed is required to and HAS paid his applicable taxes to NYS for the days he played in NY. the question is, if it is determined he is a nyc resident, he would be subject to NYC taxes as well as NYS taxes on all his income (before he receives the nonresident state credits) and NYS/NYC tax all his investment income.
as far as i understand, jeter has doen nothing wrong and it's not a very unusual residency issue case. am i correct? | |
Death&Taxes (talk|edits) said: | 5 February 2008 |
| The NY Daily News reports that Jeter and New York have reached an agreement to settle this case.....it will not be published so we will never know. | |
Corptaxhelp (talk|edits) said: | February 5, 2008 |
| Oh, it'll be published. But, it'll be published in the gossip columns not in the federal register. | |
