Dick Grasso discovered the upside of getting canned by the NYSE in 2003: he spent a lot less time in New York City, where he has a residence in Tribeca, and a lot more time out in in Long Island mansion. And this has given him the confidence to deny officially being a resident of the city in 2003, and therefore allowing him to avoid millions in taxes. New York City tax authorities are calling bullshit, of course, but Grasso sounds pretty damned unconcerned.
The boys at the Post have the story:
The former NYSE chief told The Post he moved out of the city "in 1974" and he's confident he did nothing wrong.
His primary legal tack, at least for the 2003 allegations, is to prove he didn't spend 183 days in the city - the legal definition of a resident.
"Fortunately," Grasso said, "the year in question, 2003, is the one where the NYSE fired me. We went back and checked - I spent 170 days in the city. If they had dragged out my dismissal, I would have had to plead no contest."
He's already got a team of lawyers working 'round the clock anyhow. What's one more legal battle, anyway?
Taxing Grasso [New York Post]