Whoops on HYIC: Tax Dept.

The Hudson Yards Infrastructure Corp. learned that the New York State Department of Taxation and Finance has erroneously sent notices to state taxpayers who were holders of the corporation’s bonds, saying that all or a portion of the interest paid on the debt is subject to the state’s personal income tax.

“HYIC has been advised by the department that these notices were the result of a coding error and that the department is in the process of canceling the assessments,” the agency said in a statement posted on the Municipal Securities Rulemaking Board website.

The corporation, which New York City established in 2005, coordinates the implementation of the city’s Hudson Yards development program on Manhattan’s West Side.

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