Domicile

News & Analysis as of

2016-17 New York State Budget

On April 13, 2016, Governor Andrew M. Cuomo signed the 2016-17 New York State Budget into law. We summarize the highlights of the revenue provisions below. Personal Income/Estate Taxes Personal Income Tax rates are scheduled...more

Paradox of Mental Incapacity in State Estate Tax: How Moving Your Elderly Parent from Florida May Generate an Unexpected Estate...

It is a difficult enough for families to come to grips with having to care for an elderly parent that may no longer be able to live on their own. After coming to terms with this unfortunate reality, the next steps often...more

Moved to Florida, but still can’t let go of New York – Will your estate be subject to New York estate tax?

Many New Yorkers who want to move to Florida still desire to retain a home, an apartment, or some other type of property in the place where they grew up. What many of the newly minted Florida residents may not consider are...more

Louisiana Adopts Domestic Surplus Lines Legislation - More States On The Way

Effective August 1, 2015, Louisiana became the 9th state in the United States to adopt legislation permitting the establishment of a domestic surplus lines insurer (“DSLI”). Louisiana now joins Illinois, Oklahoma, Arkansas,...more

Minnesota Department of Revenue Publishes Revenue Notice Addressing Location of a Taxpayer’s Attorneys, Accountants, and Bank...

On February 1, 2016, the Minnesota Department of Revenue (the “Department”) issued Revenue Notice # 16-01 (available here), in which the Department explains how it will view the location of a taxpayer’s attorneys,...more

Delaware Domicile

The appropriate legal domicile for the company’s organization and filings. In almost every case, Delaware is the appropriate choice. Despite media insinuations, Delaware is not a tax haven. State income taxes are levied on...more

Making the Move from Massachusetts: Changing Your Domicile May Prove Challenging

Labor Day will soon be upon us and with that a change of seasons here in Massachusetts. While it’s not quite time to take out the winter woolies, the dismal 2016 winter weather predictions for the Northeast may have already...more

Trust And Estate: Changes To UK Resident Non Dom Income Tax Laws Leads To Need To Establish A Resident Non Dom Income Tax Trust...

The UK tax obligations of an individual depend in large part on the individual’s "domicile" under generally applicable English common law principles. The citizenship of an individual is irrelevant under the UK tax system. The...more

Another Significant Development in the Statutory Residency Area!

There are always “traps” in the tax law, where taxpayers unwittingly walk into a tax problem that they didn’t see coming. In the residency area, some taxpayers often got trapped on a move-in or move-out situation, with the...more

Addressing the Residency Question - Trust and Estates Update Vol. 2015, Issue 1

Generally, the first criterion for determining whether an individual is subject to probate or to estate or inheritance tax in a state is the individual’s domicile at the time of his or her death. In an increasingly...more

The Ohio Supreme Court Places Limitations on the Ohio Bright Line Income Tax Residency Presumption

On July 8, 2015, the Ohio Supreme Court found that Ohio nonresidents may not claim the benefit of the Ohio “bright line” presumption of nonresidency for income tax purposes if the taxpayer attests to having a domicile outside...more

More UK Residential Property for the IHT Net

The headline-grabbing inheritance tax (IHT) news from last week’s Budget was the introduction, from April 2017, of an additional nil rate band when a residence is passed on death to direct descendants. However this is only...more

Changes to Non-Domiciled Status Announced in The UK Summer Budget 2015

Following the United Kingdom’s General Election in May, George Osborne, Chancellor of the Exchequer, gave the new government’s first budget speech on 8 July 2015. In his speech, Mr Osborne announced some changes to the tax...more

Chancellor Scraps Permanent Non-Dom Status!

Until now, the UK has been one of the most welcoming jurisdictions in Europe where non-UK-domiciled individuals could live. Today, Chancellor George Osborne announced in his Summer Budget that from April 2017 the rules...more

Shanghai Government Relaxes Company Domicile Requirements

Action Item: The recently implemented Administrative Measures show the Shanghai government’s intention to relax and simplify the requirements for company domicile registration. However, the precise scope of the Administrative...more

Come What May: The Power of Testimony in Domicile Cases

One of the more interesting aspects I’ve seen in residency cases in my practice is the importance and understanding of a taxpayer’s intent in the overall analysis. That’s part of what makes residency cases so unique. There...more

Estate Planning for Non-U.S. Citizens

In This Presentation: - Basic Rules - Determination of Residency for Estate Tax purposes - Tax Rules - Estate and Gift Tax Treaties - Asset Situs Rules - Taxation of Life Insurance...more

Change to Rules of Service Out of the United Kingdom Following the Recast Brussels Regulation

Introduction - Regulation 44/2001 (the “Original Brussels Regulation”), which aimed to harmonise the approach to jurisdiction and the recognition and enforcement of judgments across European Union Member States’...more

IRS Rules on Domesticated Organization and Tax-Exempt Status

Late last year, the Internal Revenue Service (“IRS”) issued a letter ruling, PLR 201446025, providing that, in certain instances, a nonprofit corporation exempt under Section 501(c)(3) of the Internal Revenue Code of 1986, as...more

New Treasury rulemaking aims to curb advantages of inversion - will this affect your deal?

Yesterday, following a summer during which a number of major American companies announced plans to invert (i.e., shift their tax domiciles overseas following cross-border mergers), the US Treasury Department issued a notice...more

Time For a New Home?

The high number of companies, mostly U.S., eyeing acquisitions or ventures that will allow them to redomicile their business in the UK and Ireland is a major theme of this report. Mostly, it is about tax. But there is quite a...more

Must Domiciliary State And Local Taxes Provide A Credit For Taxes Imposed By Other Jurisdiction?

Many states and local jurisdictions impose income taxes on all of the income of their residents. Some of this income may be from sources outside of the state or locality, and thus the source of income jurisdiction may also...more

Gaied v. New York: The State's High Court Weighs In On Statutory Residence Rules

The concept of residency is usually the starting point for all state income tax considerations. And while almost every state imposes, at various rates, a personal income tax, in general the states use a similar sets of...more

Minnesota Income Tax Residency Law— Recent Developments and Planning Considerations

On April 16, 2014, the Minneapolis Star Tribune published an article by Adam Belz titled, “Minnesota’s wealthy caught in a tight tax net over residency.” The article discussed the Minnesota Department of Revenue’s approach to...more

New York's Highest Court Clarifies Taxpayer Criteria for Maintaining a Permanent Place of Abode

In a recent unanimous decision, the New York Court of Appeals determined that a taxpayer domiciled in New Jersey was not a New York resident because he did not maintain a permanent place of abode in the state. The Court...more

37 Results
|
View per page
Page: of 2
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×