Kansas Denies Former Waddell Chief $1.2M Tax Refund

A judge has ruled that Keith Tucker, the former chief executive officer of Waddell & Reed, was, indeed a resident of Kansas City between 1999 and 2003, not Texas, and that he must pay $1.2 million in taxes, penalties and interest. Jackson County Circuit Court Judge John M. Torrence made the ruling, The Kansas City Star reports.

Kansas City charges residents a 1% earnings tax. “This is good for the city,” said City Manager Warne Cauthen. “The decision is a complete victory for the Revenue Division,” said City Attorney Galen Beaufort.

Meanwhile, Tucker still has an unresolved matter with the Internal Revenue Service, which claims that he and his wife improperly deducted $39.2 million from their income and owe the government $22 million in taxes and penalties.