Tuesday, January 09, 2007

Is Dick Grasso a Tax Cheat?

New York City tax authorities are piling on Dick Grasso, the New York Post reports. They are claiming that he is a New York City resident, and that he owes $1.8 million in penalties and an unspecified sum in back taxes.

I can't blame city authorities for seeking their pound of flesh from the much-sued Grasso, but this strikes me as a tenuous claim at best. He did have an apartment in Tribeca, but actually moved out of the city to a succession of increasingly lush North Shore residences many years ago. He also has a summer house in the East End of Long Island.

I've never seen any of those dwellings, but as a longtime New Yorker myself I seriously doubt that Grasso spent more than the requisite 183 days in the city, given the alternatives. I sure wouldn't, if I had a North Shore mansion etc. etc.

© 2006 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site.


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