New York City scraps tax break for Trump apartment
Source: The Hill
New York City has reportedly nixed a tax break worth nearly $50,000 that President Trump was expected to receive for his Trump Tower condo.
The New York Daily News reported on Thursday that the city made the decision after receiving inquiries from the newspaper regarding his eligibility for the city's condominium abatement, which is a tax break available to condo and co-op owners.
We have removed the exemption and have contacted the managing agent to update their records, New York City's Department of Finance spokeswoman Sonia Alleyne told The News on Thursday. Managing agents are required by law to inform the Department of Finance of primary residency changes.
The newspaper noted that on Tuesday, city records had indicated Trump was going to save $48,834.62 on his tax bill for the year beginning July 1. But a homeowner can only be eligible to receive the specific tax break if a condo is one's primary residence, the outlet reported. Trump has not kept a primary residence at the Trump Tower since moving to the White House on Jan. 20, 2017, the day of his inauguration.
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Read more: http://thehill.com/homenews/395735-new-york-city-scraps-tax-break-for-trump-apartment
dhol82
(9,351 posts)Thats what rich New Yorkers do. Establish a Florida address to save on income taxes.
This is just so delicious 😋
RockRaven
(14,886 posts)this skinflint will be bitch and moan and whine about this if/when he hears.
WhiteTara
(29,692 posts)and I saw the next great meme -- wimp womp Sure fits that nasty piece of flesh.
lagomorph777
(30,613 posts)keithbvadu2
(36,640 posts)truthisfreedom
(23,138 posts)CRK7376
(2,198 posts)This article just made my morning. As in the words of the Trump Admin...WOMP, WOMP!