Hedge fund honcho wins $27 million tax fight with NYC


Billionaire hedge fund manager Julian Robertson won a $27 million tax case after convincing a a judge that he wasn't a resident of New York City in the year 2000 -- and it all came down to four days.

The way the law works is that anyone who spends more than half the year living in New York City is subject to the jurisdiction's taxes -- in 2000, the top tax rate was 3.78%, meaning that Mr. Robertson must have earned around $700 million in the year 2000.

The New York State Department of Taxation and Finance argued that because he couldn't provide proof that he didn't spend more than half the year in New York City, he had to pay the tax. Robertson and his lawyers, family, and his assistants spent countless hours pouring over schedules, calendars, tickets, etc. to convince a judge that he spent less than half the year in NYC proper -- with a good chunk of the rest of his time spent on Long Island.