As most readers know, New York’s highest court recently issued a groundbreaking decision on the state’s residency rules — one of the first times that court has addressed this important New York tax issue. Gaied v. New York State Tax Appeals Tribunal, No. 26 (N.Y. 2014), has left practitioners and commentators buzzing over the ramifications for New York residency audits. Many think it is a big deal and that it will have a huge effect on future cases. Others have had more tempered reactions, viewing the case as a great win for John Gaied, but not one that will affect many others, given the unique facts in the case.
As the lawyers who litigated Gaied, we thought it was time to weigh in. And as one might expect, we’re in the ‘‘big deal’’ camp. When New York’s highest court makes a new pronouncement on income tax residency — an issue typically confined to administrative appeals — practitioners, taxpayers, and the New York State Department of Taxation and Finance have to take notice.
Originally Published in State Tax Notes - May 19, 2014.
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Topics: Audits, Residence Taxes, Residency Requirements, Residency Status
Published In: Tax Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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