The New York legislature’s proposed measure to levy carried-interest tax on hedge-fund professionals who work in the city but live out of state may have seemed like a good idea at the time, but in doing so, they’ve also given arch rival Connecticut, the Betty to New York’s Veronica, just the opportunity it was looking for to step in on our turf. Yesterday, Connecticut governor Jodi Rell overtly challenged New York’s place by offering those who would be affected by the tax to come up and see her sometime.
As lawmakers in Albany consider a proposal to vastly increase the tax liability of hedge fund professionals who work in New York — many of whom have already wisely decided to live in Connecticut — I would like to convey a very simple, yet heartfelt, message: Connecticut welcomes you!” Connecticut’s Republican governor wrote the New York Hedge Fund Roundtable, a trade group.
Excuse me, honey. We’re right here. It seems that in taunting hedge funds with the possibility of this tax, New York went a step too far and forgot one of the cardinal rules of dating, and of life, which is that men might date a complicated, interesting bitch, but when it comes to settling down, they will almost always opt for the sweet, pretty pushover.
Connecticut starts border war over NY hedge funds [Reuters]
Related: New York May Tax Out-of-State Hedge-Fund Workers
