Michael Saylor was indicted by the District of Columbia Attorney General in August 2022, alleging that he had resided in the District for over 10 years but had never paid any income tax. In the United States, citizens are required to pay state income taxes in addition to federal taxes if they meet the definition of a resident and have income from sources within a particular state. Due to significant variations in tax rates among states, according to the latest data published by the Tax Foundation, the tax rate in the District of Columbia is as high as 10.75%, while Florida has no income tax. Therefore, Saylor sought to evade the high income tax rate by changing his residence address.
Bitcoin Believer Michael Saylor Sees Nearly $900 Million Surge in Assets This Year
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