The President-Elect Is Suing Washington, D.C., So His Luxury Hotel Can Pay Less in Taxes
By Henry Grabar
Lawyers for an LLC owned by Donald Trump and his children will try again to reclaim tax revenue from Washington, D.C., Bloomberg BNA reported on Wednesday. Their first suit, which alleged that the District overtaxed the Trump International Hotel, was dismissed in late October. It is now being refiled in separate petitions for each of the lots that make up the property.
The hotel in question is located in the Old Post Office Building, a federal property that Trump Post Office LLC rents from the U.S. General Services Administration, or GSA. In two months, Donald Trump will have the power to appoint the head of the GSA, which would handle any contract renegotiations with the hotel, which will apparently be controlled at that point by a trust run by the president’s children.
But that’s all to come. Back in June, Trump’s team argued that its $1.7 million annual tax bill in 2015 and 2016 was too high because the hotel was only partially completed at that time. They also said the lease, which the city assessed at $98 million and lowered to $91 million on appeal, was only worth about $28 million, according to Politico.
more:
http://www.slate.com/blogs/moneybox/2016/11/16/donald_trump_tries_again_to_pay_less_in_taxes_on_his_fancy_new_hotel.html
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