Two paragraphs of ad hominems, lies and projecting. Cut all the whining and unncessary verbiage. Just say "I'm part of the low-info, brainwashed parasite class who wants my lifestyle funded by other taxpayers and I don't mind if totalitarian organized criminals run the White House to do so."
District of Columbia Suing MicroStrategy Founder Michael Saylor for Tax Fraud
- Thread starter ET180
- Start date
He never really moved to Florida. The complaint itself is an interesting read. In the second half of it they describe his life style and where he lived in details. He had 2 yacths in DC (he lived there while the apartments were added together) another one was coming from Amsterdam. Since 2014 he spent more than 186 days every year in DC. The property and driving license were a ruse in FL.
Somebody must have ratted him out, because there are hearsay records of him boasting how he outsmarted the local authorities, and advising his ilk to do the same.
Apparently there is some 25 MM worth taxable events in his past (maybe from selling stocks). So with the penalties and interest, that ads up to over 100 MM.
He should have gone the Elon's way, just take out loans against your stocks, don't take a salary, never sell Bitcoin. Then there isn't much to tax. Once you don't have a taxable event, you don't have to play the FL residency game...
And even if you do have to pay federal tax, make a fundation in your own interest and donate the money to that. Nobody is the wiser...
Baron
ET Founder
In a statement reported by Bloomberg, Saylor said:
“I respectfully disagree with the position of the District of Columbia, and look forward to a fair resolution in the courts. Although MicroStrategy is based in Virginia, Florida is where I live, vote, and have reported for jury duty, and it is at the center of my personal and family life.”
Saylor explained that he had relocated to Florida’s Miami Beach from Virginia 10 years ago after “purchasing a historic house there.”
Per a tweet from Eamon Javers, CNBC’s Senior Washington Correspondent, MicroStrategy stated:
“The case is a personal tax matter involving Mr. Saylor. The company was not responsible for his day-to-day affairs and did not oversee his individual tax responsibilities. Nor did the company conspire with Mr. Saylor in the discharge of his personal tax responsibilities. The District of Columbia’s claims against the company are false and we will defend aggressively against this overreach.”
“I respectfully disagree with the position of the District of Columbia, and look forward to a fair resolution in the courts. Although MicroStrategy is based in Virginia, Florida is where I live, vote, and have reported for jury duty, and it is at the center of my personal and family life.”
Saylor explained that he had relocated to Florida’s Miami Beach from Virginia 10 years ago after “purchasing a historic house there.”
Per a tweet from Eamon Javers, CNBC’s Senior Washington Correspondent, MicroStrategy stated:
“The case is a personal tax matter involving Mr. Saylor. The company was not responsible for his day-to-day affairs and did not oversee his individual tax responsibilities. Nor did the company conspire with Mr. Saylor in the discharge of his personal tax responsibilities. The District of Columbia’s claims against the company are false and we will defend aggressively against this overreach.”
Saylor, as usual is full of shit. The idiot documented his whereabouts on social media and the company's jet's flying is also very easy to follow, almost exclusively used by him. He voted 3 times in FL, always by absentee ballot, being sent to VA or DC.
Days he spent in DC:
2014: 228 days
2015: 323 days
2016: 225 days
2017: 196 days
2018: 243 days
2019: 251 days
It is pretty clear he was a DC resident according to definition. How much he is supposed to pay in taxes, that is a different matter. Most states, countries and jurisdictions look at you as resident if you spend 186+ days there, and for him it is not even close...
So again, another billionaire asshole trying to play the system. I don't even get it, he may have saved like 25 MM in 10 years out of his billions? Was it worthy???
The company's accounting office was aware of the scheme and were not happy about it. It started with the $1 salary in 2014 when things didn't go smooth for MicroStrategy. Anyhow, it is all in the complaint.
Days he spent in DC:
2014: 228 days
2015: 323 days
2016: 225 days
2017: 196 days
2018: 243 days
2019: 251 days
It is pretty clear he was a DC resident according to definition. How much he is supposed to pay in taxes, that is a different matter. Most states, countries and jurisdictions look at you as resident if you spend 186+ days there, and for him it is not even close...
So again, another billionaire asshole trying to play the system. I don't even get it, he may have saved like 25 MM in 10 years out of his billions? Was it worthy???
The company's accounting office was aware of the scheme and were not happy about it. It started with the $1 salary in 2014 when things didn't go smooth for MicroStrategy. Anyhow, it is all in the complaint.