WSJ – Connecticut Governor M. Jodi Rell said it would be a “wise choice” for hedge-fund managers to move to her constituency and away from New York, as Connecticut’s tax regime is more favorable.
Rell’s admonition came despite New York Governor David Paterson inconspicuously dropping a tax proposal last month that would have treated hedge-fund managers’ performance incentive or carried interest as a capital gain, rather than as ordinary income, and subjected it to tax rates as high as 35%.
