Wall Street Journal Reports Wynn Met With Treasury To Reduce Tax Bill
Weeks after being ousted at Wynn Resorts amid sexual misconduct allegations, Steve Wynn met with Treasury Department officials about ways to reduce his tax liabilities.
Wynn potentially faced a huge tax bill after selling his stake in the company for $2.1 billion.
The Wall Street Journal reports Wynn met with officials, including Treasury Secretary Steven Mnuchin, to discuss so-called “opportunity zones” which offer tax breaks for investing in low-income areas.
Wynn’s stock sale could have left him with a tax liability of more than $100 million. Wynn resigned from the company in February 2018, weeks after multiple reports of sexual misconduct spanning several decades.
Nevada gaming regulators recently passed down a fine of $20 million for Wynn Resorts for failing to properly investigate the claims