The New York City Tax Appeal Tribunal recently determined that the restructuring prevents the advisor from qualifying for compensation deductions for purposes of the New York City Unincorporated Business Tax.
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Asset Manager Faces Big Tax Bill after Reorg
- Saturday, Jul 12 2014
- News Roundup
- Written by PFA News
Tocqueville Asset Management took action to simplify its complicated ownership compensation scheme and ended up with a $435,938 tax bill. So Forbes reports.