CHINA TOPIX

12/23/2024 12:57:12 am

Make CT Your Homepage

Robert Redford Sues New York for US$1.6 Million Tax Bill

Academy Award winner actor-director Robert Redford sued the New York State Department of Taxation and Finance in Albany County Supreme Court on July 30 for the US$1.6 million tax bill related to his company's sales in 2005.

Robert Redford, the owner of Sundance Channel, claimed that he is being overtaxed by the state after his company sold off a stake in 2005, saying that he has paid enough taxes back in Utah and that he didn't owe any more money.

Like Us on Facebook

According to reports, the Courthouse News Service, the 77-year old actor is being taxed US$845,066 and owes an interest of US$727,404 which makes a total of around US$1.6 million by New York based on the money he has incurred through his company.

The actor allegedly held 85.5% of Sundance TV Inc., but has sold part of its 20% stake in Sundance Channel which then caused the gain in profit that he already included on his tax return in Utah.

Despite this, the actor said that he has received the bill anyway in May this year, with the sales proceeds being treated as 'New York source income.'

Robert Redford claimed that this action was wrong since he has fully paid all of his taxes in Utah where he is a resident, and that neither he nor anyone or anything from Sundance has anything to do with how New York was suddenly triggering a tax bill.

The actor additionally said that he has already sold the rest of his Sundance Channel shares back in 2008 and reported the profit gain the same way without receiving any kind of objection whatsoever from New York.

The 'All is Lost' star is asking for judgment that he doesn't owe money, now demanding for the tax to be void and is also asking for the cost of prosecution, including attorney's fees from the agency.

Real Time Analytics