Terrence Wall the Tax Dodger
Multi-Millionaire, Real Estate Developer Terrence Wall Fails to Pay Wisconsin State Taxes Yet Funds Campaign in Excess of a Quarter of a Million Dollars
MADISON – News reports out today reveal that multi-millionaire, real estate magnate, and candidate for the Republican nomination for U.S. Senate Terrence Wall has neglected to pay any personal income taxes to the State of Wisconsin four out of the last five years. Tax dodging is a disturbing habit for Wall and this latest news comes on the heels of his campaign’s announcement just this week that he’s poured $275,000 of his personal wealth into his own campaign.
“How can Mr. Wall ask Wisconsin taxpayers for their vote, when he pays no taxes? How can he ask to represent taxpayers when he isn’t one?” asked Mike Tate, Chairman of the Democratic Party of Wisconsin. “It’s bad enough that Wall has continued his disturbing pattern of tax dodging, but with news out earlier this week that he’s written his campaign a check for $275,000, this latest tax dodge is a kick in the gut to working families across our state. Why Wall thinks he doesn’t have to follow the rules that the rest of us do remains unclear.”
Tax avoidance is a disturbing pattern for Terrence Wall. He’s already come under fire for incorporating at least 16 of his companies in Delaware – a practice that, according to the May 30, 2009 issue of the New York Times, “help corporations avoid paying taxes in other states”.
Reports indicate he’s also dodged over a hundred thousand dollars in property taxes by claiming commercial land he owns in the Madison area is agriculture land – the most infamous is a supposed “pumpkin patch” located in the heart of Middleton.
According to the required personal financial disclosure report Wall recently filed, between January 2008 and October 2009, Wall reported income between $3,494,197 to $15,273,332 and reported personal assets totaling $58,584,046 to $129,862,000.
Wispolitics – January 15, 2009 – WisPolitics: Wall paid no personal state income tax in four of five past years
New York Times – May 30, 2009 – Critics Call Delaware a Tax Haven
Capital Times – October 2, 2009 – Biz Beat: T. Wall rapped over Delaware address
Capital Times – October 30, 2009 – Terrence Wall’s pricey pumpkin patch
Blogging Blue – December 23, 2009 – It’s property tax time…
Wispolitics – December 11, 2009 – Wall Personal Financial Disclosure Statement