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Income Taxes › Primary Residence

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Awatif Mohammad Shoqi Advocates & Legal...

Avoiding Double Taxation: The UAE's Legal Framework for Mitigating International Tax Liabilities

Awatif Mohammad Shoqi Advocates & Legal... on

Double taxation arises when the same income is taxed in two different jurisdictions, potentially leading to excessive tax burdens for individuals and businesses. The UAE has developed a comprehensive legal framework to...more

Strafford

[Webinar] Tax Considerations for Foreign Rental Property: Holding Structures, Reporting Rental Income and Expenses, FTCs - March...

Strafford on

This course will discuss the considerations and caveats of U.S. residents owning foreign rental property. Our seasoned panel of international tax experts will explore U.S. and foreign holding structures, residential and...more

Holland & Knight LLP

Contract Allocations and Judicial Doctrines

Holland & Knight LLP on

In Cotto-Vázquez v. United States, CIV. NO.: 16-2807 (SCC) (D.P.R. March 11, 2021), Miguel Ángel Cotto-Vázquez (Cotto),1 the former four-time Puerto Rican boxing champion, became involved in another fight. This time he faced...more

BCLP

Fleeing New York for a Tax Home in Florida

BCLP on

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

Holland & Hart LLP

United States Supreme Court to Consider Whether States May Tax Trusts Based on Residence of Beneficiary

Holland & Hart LLP on

The new limitation of the federal deduction for state income taxes to $10,000 has heightened interest in planning for state income taxes.  Thoughtful practitioners who assist clients in establishing non-grantor trusts should...more

Williams Mullen

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

Williams Mullen on

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?

Farrell Fritz, P.C. on

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

Dorsey & Whitney LLP

Despite Clash Over Tax Cuts, Governor Dayton Signs Bill Enacting Important Income Tax Changes for Minnesota Residents and...

Dorsey & Whitney LLP on

On May 30, 2017, Governor Dayton signed into law Minnesota’s omnibus tax bill (HF 1), which contains significant income tax changes of interest to both residents and nonresidents of Minnesota. Initially, Governor Dayton...more

Chambliss, Bahner & Stophel, P.C.

5 Things to Know to Reduce Your Tax on Capital Gains

Chambliss, Bahner & Stophel, P.C. on

Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here's what you need to know to do such planning...more

McDermott Will & Emery

NYS Tax Department Reverses Position on Statutory Residence Rule

McDermott Will & Emery on

The New York State Department of Taxation and Finance (the Department) has backed off from an aggressive position that it has been taking in cases involving New York residence issues....more

Cozen O'Connor

Permanent Place of Abode Requires Actual Use of Property as Taxpayer’s Residence

Cozen O'Connor on

The New York Court of Appeals reversed the decision of the Appellate Division of the New York Supreme Court and held that in order for an individual to have a “permanent place of abode” in New York for purposes of determining...more

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