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Analysis

Miami Could Attract Hedge Funds If SALT Deductions Axed

Law360, Miami (December 6, 2017, 10:46 PM EST) -- For years, inertia has been Nitin Motwani’s greatest foe in his attempts to lure hedge fund owners in the northeast to Miami, which he has pitched as a tropical low-tax paradise. But with the Republican tax bill proposing to eliminate deductions for state and local taxes, he’s sensing an opportunity to finally overcome it.

Motwani, a Miami Downtown Development Authority board member, said the volume of requests for help with logistics — finding an attorney in Miami or a recommendation for an office broker — has...
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