All-star infielder Derek Jeter’s New York Yankees were knocked out of the American League playoffs this year, but he may be facing bigger problems — a huge bill for back taxes.
Jeter has an off-season home in Tampa, Fla. — which has no state income tax — and he claims residency there.
But the New York State Department of Taxation wants Jeter — who bought a $13 million Manhattan apartment in 2001 — to pay back taxes, plus interest, for the years 2001 through 2003, when the agency alleges Jeter was actually a New York resident, according to court filings obtained by the New York Post.
The back-tax money owed is “in the millions,” a source close to the case told the Post.
Jeter’s Yankee salary is already taxed by New York State, but he may have been sheltering money he earned from endorsements and investments in Florida, the Post reported.
If a court rules that Jeter was a New York City resident during the time in question, he will also have to pay back taxes owed to the city.
According to Forbes, Jeter is expected to earn $28.3 million this year.
© 2024 Newsmax. All rights reserved.