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Citigroup Avoided Paying $800M In NY State Taxes, Lawsuit Says

Eric B. Rasmusen, a professor of business, economics and public policy at the Kelley School of Business at Indiana University
Eric B. Rasmusen, a professor of business, economics and public policy at the Kelley School of Business at Indiana University Photo Credit: rasmusen.org

Economics Professor Eric B. Rasmusen is suing Citigroup for avoiding $800 million in New York State taxes, The New York Times reports.

According to the article, the professor of business economics and public policy at the Kelley School of Business at Indiana University said Citigroup used an unusual federal tax break during the financial crisis to avoid taxes.

He seeks $2.4 billion in damages under the False Claims Act, the article said and the bank is expected to respond by Dec. 7.

For the full story see newyorktimes.com.

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