Lisa Marie Presley Revealed to Owe Major Tax Bill in New York

Lisa Marie Presley reportedly owes the state of New York money in back taxes, appearing on the state’s Department of Taxation and Finance's monthly list of the 250 people who owe the most in back taxes. According to the Daily Mail, Presley is at No. 177 and owes New York State $636,950.33.

The top income tax rate in New York is currently 8.82% for income of over around $1 million, and residents of New York City have an additional 3.88% top tax rate. Earlier this year, New York State Gov. Andrew Cuomo indicated that he would sign a bill allowing a tax increase on the wealthy, and New York residents to make over $1 million would face a 9.65 percent income tax rate.

That number increases to 10.3 percent for those who make between $5 million and $25 million and 10.9 percent for taxpayers who make over $25 million. Presley has had a number of financial woes, and in 2018, she sued her ex-business manager Barry Siegel for "reckless and negligent mismanagement" of her money, according to The Blast. Presley had inherited her late father Elvis Presley's $100 million estate in 1993 when she was 25, and a lawsuit stated that the amount had been drained down to $14,000. In turn, Siegel accused Presley of excessive spending and counter-sued her for $800,000.

In December, Presley sold the Calabasas, California home she had purchased in March 2020 after her son, Benjamin Keough, died by suicide there in July 2020. A source told The Post that Presley "could not step foot inside the home" after her son's death. Presley sold the home, which she had purchased for $1.8 million, for $2 million in an off-market deal.

Earlier this month, Riley Keough, Presley's second child with ex-husband Danny Keough, opened up about the grief she feels surrounding her brother's death during an appearance on the Just for Variety podcast. "I think when you're in grief, everything for the first time hits you," she said. "It’s like, 'Oh I'm experiencing this in grief now.' It's the little things at first like I'm going to the grocery store in grief. Never done that before. And then it's like, 'I'm going back to the gym in grief.' And so you kind of have to re-experience everything in grief all over again until you've kind of done everything in grief in my experience."