(NewsNation) — Actors like Cynthia Nixon, Mark Ruffalo, Ilana Glaser, Mandy Patinkin, George Takei and Morgan Spector all stumped for Zohran Mamdani — but they likely won't take a pay cut.
While Mamdani is threatening to raise taxes on millionaires, many of these wealthy actors report their income not through a personal W-2 but via a corporate vehicle.
Yifan Yang, a New York-based CPA, told me: "Most people in the entertainment industry, including actors and actresses, get paid through their 'loan-out' companies (S-corp, LLC, & etc) and report their income through those entities to the IRS. It's a passthrough entity so it doesn't pay any Federal income tax. All income flow-through to the shareholder's personal tax return.” • Mark Ruffalo arrives at the premiere of "She-Hulk: Attorney a

NewsNation Entertainment
Grunge
Cover Media
Women's Wear Daily Retail
CNN
Atlanta Black Star Entertainment
The Daily Beast
AlterNet
FOX News