Monday, November 19, 2007

Derek Jeter & The Taxman

Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman

Should five per cent appear too small
Be thankful I don't take it all
'Cause I'm the taxman, yeah I'm the taxman

If you drive a car, I'll tax the street,
If you try to sit, I'll tax your seat.
If you get too cold I'll tax the heat,
If you take a walk, I'll tax your feet.

Don't ask me what I want it for
If you don't want to pay some more
'Cause I'm the taxman, yeah, I'm the taxman

Now my advice for those who die
Declare the pennies on your eyes
'Cause I'm the taxman, yeah, I'm the taxman
And you're working for no one but me.
- the Beatles

The NY Taxman chaseth Derek.

The taxman wants to call Derek Jeter out at home.

The Yankee captain is fighting New York officials over whether he actually lives in the state and owes millions in back taxes.

Jeter, who has played with the Bronx Bombers since 1995, owns an off-season home in Tampa, Fla., and has claimed residency in Florida for years.

But the New York State Department of Taxation and Finance insists the superstar shortstop is an Empire State resident, and is demanding back taxes, plus interest, for the years 2001 through 2003, according to court filings.

The alleged debt is "in the millions," according to a source close to the case, who added that the auditors picked those years because they believe they have the strongest arguments to make for them.

Jeter's Yankee salary is already partially taxable New York state income, but he may have been sheltering millions in endorsements and investments in the Sunshine State.
His endorsements include deals with Nike, Ford, Gatorade and Avon, in addition to memorabilia pacts.

According to Forbes, he was slated to earn $28.3 million in 2007.

This song was written by George Harrison when, after the four little moptops started to make money, he realized just how much Her Majesty's government was getting as their cut. I mean, Queen Elizabeth II is a wonderful lady but she was getting paid pretty well for not recording or touring with them.

Today in the USA NY Governor Elliot Spitzer dropped plans to tax Internet commerce, so he's looking around for some spare change and his attention has fallen on Yankee hero Derek Jeter. Jeter, like a lot of athletes and other high income earners live in Florida to enjoy the weather and no state income tax!

Do you hear that my NJ brothers and sisters? Do not be afraid! Step toward the light!

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