John Paulson, a lifelong New Yorker, is exploring a move to
Puerto Rico, where a new law would eliminate taxes on gains from the $9.5
billion he has invested in his own hedge funds, according to four people who
have spoken to him about a possible relocation, according to a Bloomberg
report,
Ten wealthy Americans have already taken advantage of the year-old
Puerto Rican law that lets new residents pay no local or U.S. federal taxes on
capital gains, according to Alberto Baco Bague, Secretary of Economic
Development and Commerce of Puerto Rico. The marginal tax rate for affluent New
Yorkers can exceed 50 percent on ordinary income.
Paulson, 57, recently looked at real estate in the exclusive
Condado neighborhood of San Juan…
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