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TACH
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Location: Chillin on the Delaware.. from the Jersey Side
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 Posted: Wed Jan 03, 2007 10:59 am Post subject: So Who's Taxpayer X? |
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We may never know if Taxpayer X is a Silicon Valley billionaire, Hollywood celebrity, or some other fabulously rich Californian.
But what's clear is that Taxpayer X did what few can fathom: settle up with the state this year for a whopping $200 million or so in unpaid taxes, almost single-handedly keeping the state's cash flow on track.
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| Quote: | | "This was a personal income tax matter, so this is an individual," said Patrick Hill, spokesman for the state's Franchise Tax Board, when asked to explain a spike in state personal income tax revenue of about $200 million last August. "We have taxpayer confidentiality ... I'm just forbidden from disclosing or characterizing this." |
| Quote: | Taxpayer X's payment alone could cover the cost of several state programs this year. For example, it's at least three times the state's annual budget for the California National Guard.
As sales tax receipts and other state income has fallen in recent months with a slowdown in California's construction and real estate sectors, Taxpayer X's payment has gone a long way toward maintaining the state's cash flow. For the fiscal year that began in July, the state is $47 million below revenue projections. Without the tax payment, the revenue gap would be five times as large. |
The Cali budget deficit went from $247 million to $47 million 
As for Taxpayer X,... I say it's Wesley Snipes 
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lakersfreak
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Joined: 11 Apr 2001
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Location: Riverside Rescue
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| Posted: Wed Jan 03, 2007 11:15 am Post subject: |
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| Seems like chump change considering the state takes in around 100 billion (and spends it) per year |
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postandpivot
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Joined: 16 Sep 2003
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| Posted: Wed Jan 03, 2007 11:29 am Post subject: Re: So Who's Taxpayer X? |
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| TACH wrote: | | Quote: |
We may never know if Taxpayer X is a Silicon Valley billionaire, Hollywood celebrity, or some other fabulously rich Californian.
But what's clear is that Taxpayer X did what few can fathom: settle up with the state this year for a whopping $200 million or so in unpaid taxes, almost single-handedly keeping the state's cash flow on track.
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| Quote: | | "This was a personal income tax matter, so this is an individual," said Patrick Hill, spokesman for the state's Franchise Tax Board, when asked to explain a spike in state personal income tax revenue of about $200 million last August. "We have taxpayer confidentiality ... I'm just forbidden from disclosing or characterizing this." |
| Quote: | Taxpayer X's payment alone could cover the cost of several state programs this year. For example, it's at least three times the state's annual budget for the California National Guard.
As sales tax receipts and other state income has fallen in recent months with a slowdown in California's construction and real estate sectors, Taxpayer X's payment has gone a long way toward maintaining the state's cash flow. For the fiscal year that began in July, the state is $47 million below revenue projections. Without the tax payment, the revenue gap would be five times as large. |
The Cali budget deficit went from $247 million to $47 million
As for Taxpayer X,... I say it's Wesley Snipes
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Ay, it is blade. 
ha haaa, Thanks snipes for giving back to the community. forget a charity. how about PAY YOUR TAXES.
you whats really crazy? snipes could simply jump on a few more movies and all that would be a wash. Wouldn't you love to be a situation when you can just go to work for a a couple of weeks, and knock out a few million in back taxes? |
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Lakers_2000
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Joined: 12 Apr 2001
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Location: Cincinnati, OH
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| Posted: Wed Jan 03, 2007 11:32 am Post subject: |
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Wesley Snipes is a beggar compared to someone who'd owe 9 figures worth of taxes. Even Gov. Arnold and Mike Tyson are much too poor to owe that kind of a tax bill.
If it's someone in the entertainment industry, it would be someone in the Steven Spielberg or George Lucas stratosphere. The way Michael Jackson handles his finances he could certainly be owing huge tax bills, but I'm not sure even he makes enough to owe a tax bill this large.
Last edited by Lakers_2000 on Wed Jan 03, 2007 11:52 am; edited 1 time in total |
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TACH
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Location: Chillin on the Delaware.. from the Jersey Side
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| Posted: Wed Jan 03, 2007 11:39 am Post subject: |
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| Lakers_2000 wrote: | Wesley Snipes is a beggar compared to someone who'd owe 9 figures worth of taxes. Even Gov. Arnold and Mike Tyson are much too poor to owe that kind of a tax bill.
If it's someone in the entertainment industry, it would be someone in the Steven Spielberg or George Lucas. The way Michael Jackson handles his finances he could certainly be owing huge tax bills, but I'm not sure even he makes enough to owe a tax bill this large. |
I was joking about Snipes (because of his tax situation),.. they say in order to have a tax bill like that, you have income close to 2 billion...
| Quote: | | Based on the state's top tax bracket, simple math says Taxpayer X paid on income in the neighborhood of $2 billion. |
Hell, Taxpayer X should of given Cali an extra 47 million and take care of the budget deficit! |
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postandpivot
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| Posted: Wed Jan 03, 2007 11:41 am Post subject: |
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| Lakers_2000 wrote: | Wesley Snipes is a beggar compared to someone who'd owe 9 figures worth of taxes. Even Gov. Arnold and Mike Tyson are much too poor to owe that kind of a tax bill.
If it's someone in the entertainment industry, it would be someone in the Steven Spielberg or George Lucas. The way Michael Jackson handles his finances he could certainly be owing huge tax bills, but I'm not sure even he makes enough to owe a tax bill this large. |
Do you know how much snipes is worth?
I'm not sure myself. But if he had any kind of percentage on those blade movies. he's worth a pretty penny. its kind of like Tom Cruise. and a few other actors/actresses that get up there. and get to make their own deals. if they're smart and they choose the right roles. one way or another in the box office or DVD/Cable INdemand movies. will be purchased like hot cakes. if you get a Major percentage on those sales. not counting basic publishing. You could end up with 100mil or 2 or 3. but remember they said back taxes. How far back are we talking? YEARS. |
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Exick
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| Posted: Wed Jan 03, 2007 12:23 pm Post subject: |
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| postandpivot wrote: | | Lakers_2000 wrote: | Wesley Snipes is a beggar compared to someone who'd owe 9 figures worth of taxes. Even Gov. Arnold and Mike Tyson are much too poor to owe that kind of a tax bill.
If it's someone in the entertainment industry, it would be someone in the Steven Spielberg or George Lucas. The way Michael Jackson handles his finances he could certainly be owing huge tax bills, but I'm not sure even he makes enough to owe a tax bill this large. |
Do you know how much snipes is worth?
I'm not sure myself. But if he had any kind of percentage on those blade movies. he's worth a pretty penny. its kind of like Tom Cruise. and a few other actors/actresses that get up there. and get to make their own deals. if they're smart and they choose the right roles. one way or another in the box office or DVD/Cable INdemand movies. will be purchased like hot cakes. if you get a Major percentage on those sales. not counting basic publishing. You could end up with 100mil or 2 or 3. but remember they said back taxes. How far back are we talking? YEARS. |
Wesley Snipes has lots of money and probably owes lots of back taxes, but I doubt he's got enough scratch to knock out a $200 million tax bill in one shot.
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lakersfreak
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Location: Riverside Rescue
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| Posted: Wed Jan 03, 2007 12:28 pm Post subject: |
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Well whoever it is needs a residence other than California
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Socks
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Joined: 01 Feb 2006
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Location: Bay Area, CA
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| Posted: Wed Jan 03, 2007 12:37 pm Post subject: |
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Lots of options.
Larry Ellison? He'd have the cash to pony up $200M in one shot. |
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Muad'Dib
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Joined: 19 Sep 2004
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| Posted: Wed Jan 03, 2007 12:40 pm Post subject: |
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| Had to be Bubb Rubb. |
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Tony Montana
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Joined: 18 Apr 2005
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| Posted: Wed Jan 03, 2007 1:22 pm Post subject: |
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| Could have been one of the new Google billionaires. The amount sounds about right. |
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