Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants. Source: New York Times
Posts published in “High Net Worth Individuals”
New York State Is Set to Raise Taxes on Those Earning Over $1 Million
By Gotham Rex on April 5, 2021
The deal, a sign of Gov. Andrew Cuomo’s weakened influence, would mean wealthy New York City residents would pay the highest combined local tax rate in the nation. Source: New York Times
Is New York Finally Ready to Tax the Rich?
By Gotham Rex on February 27, 2021
After the pandemic’s economic devastation, legislators are coming around to the idea. Source: New York Times
The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks
By Gotham Rex on February 3, 2021
432 Park, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate. Source: New York Times
Wall Street Favorite Raises $5 Million in Race for New York Mayor
By Gotham Rex on January 13, 2021
New York’s business community is coalescing behind Raymond J. McGuire, an ex-Wall Street executive, but the support may turn off some left-leaning voters. Source: New York Times
Top Sales Show How Pandemic Continues to Influence the Market
By Gotham Rex on January 1, 2021
Single-family houses and penthouses remained in demand in December as buyers sought out homes with more personal space. Source: New York Times
Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida
By Gotham Rex on October 22, 2020
The firm, Elliott Management, led by Paul Singer, will transfer its headquarters to West Palm Beach, Fla., because of the pandemic. Source: New York Times
Deal Reached in N.J. for ‘Millionaires Tax’ to Address Fiscal Crisis
By Gotham Rex on September 17, 2020
Gov. Philip Murphy said the tax would help make up shortfalls caused by the pandemic, but Republicans warned it would lead to an exodus of wealthy residents. Source: New York Times
How Can Executives Reach the Mayor? Try a Strong Letter
By Gotham Rex on September 15, 2020
Business leaders wrote Bill de Blasio asking for help bringing their employees back to the office. He asked for their help in return. Source: New York Times
Inside the Clash Between Powerful Business Leaders and N.Y.C.’s Mayor
By Gotham Rex on September 12, 2020
The tensions burst into the open when 163 executives joined to criticize Bill de Blasio’s leadership. Others think their portrait of the city is overly bleak. Source: New York Times
Tax the Ultrarich? Cuomo Resists, Even With a $14 Billion Budget Gap
By Gotham Rex on September 7, 2020
State Democratic lawmakers are pressuring Gov. Andrew Cuomo to approve a tax on the wealthy, fearing that budget cuts will hurt those most in need. Source: New York Times
A Quick Virus Test? Sure, If You Can Afford It
By Gotham Rex on August 31, 2020
Standard tests in New York City can take days. Wealthier people are turning to concierge services and small laboratories to get results in as little as 24 hours. Source: New York Times
Ocasio-Cortez Pushes Cuomo to Back Billionaires’ Tax
By Gotham Rex on July 16, 2020
Progressives want the tax to help New Yorkers hurt by the virus, but the governor says it could drive high earners out of state and damage the tax base. Source: New York Times