News & Analysis as of

Domicile Income Taxes

Cadwalader, Wickersham & Taft LLP

UK Spring Budget 2024

Key Tax Measures The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Spring Budget for 2024 on 8 March, 2024.  The Budget was delivered against the backdrop of an anticipated general election in the summer...more

Pillsbury - SeeSalt Blog

No Day Off for Buehler: California Sources Gain from Sale of Intangible to Domicile and Denies Other State Tax Credit

The California Office of Tax Appeals (OTA) held a California resident was not entitled to claim an other state tax credit (OSTC) for taxes paid to Massachusetts because gain from the sale of an LLC membership interest was...more

Rivkin Radler LLP

Can You Be Sure You’ve Left New York Before The Sale of Your Business? Will It Matter?

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Hasta La Vista N.Y.- Wealthy individuals continue to leave New York for tax friendlier jurisdictions. Be Prepared- Some of these taxpayers take a very methodical approach toward planning for their departure. They...more

Freeman Law

Procedimiento simplificado ante el IRS para extranjeros fuera de EUA

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Muchos ciudadanos americanos que viven en el extranjero no presentan su declaración de impuestos en Estados Unidos de América (“EUA”) por diversas cuestiones. Generalmente, esto sucede porque se tiene la creencia que no es...more

Rivkin Radler LLP

You “Placed Your Trust” In New York? You May Be Sorry You Did

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According to a report issued by the National Association of Realtors a couple of days ago, last year saw a large outmigration of people from California and New York, while Florida and Texas experienced a comparably large...more

Rivkin Radler LLP

Leaving New York? Can You Prove It?

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“Summertime and the Living” Isn’t Easy- Summer in the New York Metro Area can be challenging. Some would say it sucks. It gets really hot. When it rains, it pours – no spritz here. The humidity is oppressive. Ironically, a...more

Troutman Pepper

NY Supreme Court Rules Taxpayers’ NY Vacation Home Not Permanent Place of Abode

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State personal income tax issues related to residency and domicile, because of their fact-dependent nature, are often the subject of controversy and litigation. Taxpayers have a fresh win in this area to celebrate. The New...more

Holland & Hart LLP

Utah Domicile Victory for Taxpayers

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On February 24, 2022, the Utah Supreme Court ruled in Buck v. Utah Tax Comm’n, 2022 UT 11, that taxpayers are allowed to present broad evidence to establish they are not domiciled in Utah for individual income tax purposes...more

Rivkin Radler LLP

Leaving New York – But What About One’s New York Business?

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Goodbye New York- Late last year, the U.S. Census Bureau released data showing population shifts across the country during 2021. According to this information, New York lost 1.8 percent of its population... ...more

Lippes Mathias LLP

Breaking Up is Hard to Do, Especially if You Want to Leave New York State

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As the influx of New York residents depart to warmer and sunnier pastures in the South, they may be leaving their homes but not necessarily their obligation to the New York State Tax and Finance Department. There are many...more

Buckingham, Doolittle & Burroughs, LLC

Ohio Domicile:Taxpayer could have prevailed with simple affidavit

In a recent Board of Tax Appeals Case, taxpayers contested the Department’s assessment of personal income taxes, asserting that they were not Ohio residents. See Anthony R. Joy & Robin E. Miller, (et. Al.), v. Jeffrey A....more

Bilzin Sumberg

Moving to the Sunshine State: Change of Domicile Planning Considerations

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Florida has long been known as a hot-spot for retirees and snowbirds to move for its sunny weather and beautiful beaches. In recent years, however, since the "SALT Deduction Cap" established by the 2017 Tax Cuts and Jobs Act...more

Moritt Hock & Hamroff LLP

Establishing & Maintaining Legal Domicile In Florida

Becoming a Florida resident has numerous income and estate tax considerations and other implications including obtaining homestead status. This Alert is an introduction to the issues and steps you should consider to establish...more

Akerman LLP

Declaring Domicile

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It’s Trickier Than You Think, Even for the President- In a tweet on October 31, 2019, the President announced that New York “will always have a special place in my heart!” While there may be political reasons for...more

BCLP

Fleeing New York for a Tax Home in Florida

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As we deal with the first snowfall of the season in New York, many New Yorkers may think about picking up and moving to Florida to avoid the cold winter.  Many New Yorkers also think about making Florida their tax home, to...more

BCLP

US/UK tax series: US citizens moving to the UK

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If you are a US citizen who is becoming UK resident you will continue to be subject to US tax and reporting obligations but will also become subject to UK tax. Although there is a double tax treaty between the US and the UK...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 10, Issue 8

Welcome to the latest issue of New York Tax Insights. In this issue we cover: ..The New York State Department of Taxation and Finance’s release of revisions to its draft business corporate franchise tax regulations for...more

Farrell Fritz, P.C.

Wills, Trusts & Estates: Plain and Simple – Changing Your “Home” For State Tax Purposes – Not So Easy

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It’s March, the winter has dragged on, and many of us are longing for warmer weather.  Some with second homes in Florida or Arizona and the like start thinking about changing their primary residence for state income and...more

Williams Mullen

Virginia Passes Legislation Narrowing Definition of "Resident Estate or Trust" for State Income Tax Purposes

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On Friday, February 15, 2019, Governor Northam approved House Bill 2526 (“HB2526”), which will change the definition of “resident estate or trust” to no longer include an estate or trust being administered in the...more

Farrell Fritz, P.C.

Doing Business In New York? Domiciled Elsewhere? Paranoid Over New York Residency Status?

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Welcome (?) to NY..... The Tax Foundation recently issued its annual State Business Tax Climate Index. The 2019 Index compares the fifty States across five major areas of taxation: corporate taxes, individual income taxes,...more

Akin Gump Strauss Hauer & Feld LLP

Swiss Tax Law Changes: Federal Act on Tax Reform and AHV Financing (TRAF)

• Switzerland’s privileged taxation of companies is no longer in line with international standards. • In 2017, the first attempt to abolish the internationally criticized regime was clearly rejected by Swiss voters. • On 28...more

Burns & Levinson LLP

Domicile: It's More Than Where You Live

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The terms “domicile” and “residence” are frequently used interchangeably, but for tax purposes, they are distinct legal concepts that carry different meanings and significance. Residence refers to a person’s place of abode....more

Fox Rothschild LLP

Florida Court Holds That Taxpayer’s Change Of Domicile Does Not Work Out

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As clients reach retirement age, many often consider a change in their domicile as part of their retirement plan. Aside from the warmer winters, Florida is a popular state for change of domicile because it has no income tax...more

Akin Gump Strauss Hauer & Feld LLP

Mixed Funds – Limited Window for Cleansing Until 5 April 2019

• Individuals that are UK tax resident and non-UK domiciled have the ability until 5 April 2019 to cleanse their mixed overseas funds and accounts. • Affected individuals should act now to review their position and assess...more

Akerman LLP

The Impact Of Hurricanes Irma And Harvey On Snowbirds And Residency Requirements

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Snowbirds need to be concerned about their residency status for income tax purposes in light of Hurricanes Harvey and Irma. Clients who retreated to New York or clients who had planned to travel from New York to Florida but...more

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