New York Hedge-Fund Manager Tax Repealed by Lawmakers
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New York lawmakers unanimously repealed a measure to raise $50 million a year by taxing hedge-fund managers who commute into the state, Governor David Paterson said.
The plan led Governor Jodi Rell of neighboring Connecticut to offer relocation assistance to New York-based fund executives who leave for her state. The New York Post reported that Rell held a dinner for representatives of 15 financial firms in Darien, Connecticut, on Aug. 2.