News & Analysis as of

Residency Status

US Banks wanting to be ahead of the FATCA game must master international tax compliance

by Foodman CPAs & Advisors on

The terms FDAP (Fixed, Determinable Annual and Periodical Income) and ECI (Effectively Connected Income) are expansive terms. They are the backbone behind the tax withholding, and reporting requirements imposed on US Banks...more

China Tax Newsletter - January / February 2017

by DLA Piper on

Welcome to the latest issue of our Tax Newsletter. In the past two months, there are a number of developments in the tax world in the PRC and Hong Kong. In the PRC, the State Administration for Industry and Commerce...more

Italy introduces a 'New Resident' regime to attract high net worth individuals

by DLA Piper on

On March 8, 2017, Italian tax authorities released the implementation rules to the newly introduced Italian “new resident” regime to attract high net worth individuals to Italy. The primary benefit of the regime is an annual...more

Recruitment and Wage and Hour Law in Ontario

by Dickinson Wright on

What are the requirements relating to advertising positions? In accordance with Ontario’s accessibility legislation, advertisements should note that employers will provide accommodations during the hiring process for...more

Changing Your “Home” For State Tax Purposes – Not So Easy

by Farrell Fritz, P.C. on

It’s February, the middle of winter, 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 estate...more

Snowbird? Or the real deal?

by Farrell Fritz, P.C. on

So you recently moved from New York to Florida? Abundant sunshine, no income tax, no estate tax — wonderful! One problem: New York State tax authorities may not think you really moved! And they’re assessing heavy income...more

Court Dismisses Claims Against Investment Firm For Lack Of Personal Jurisdiction

by Winstead PC on

In Happy vs. Tanner, Tanner sued Retire Happy for breach of fiduciary duty, negligent misrepresentation, fraud, conversion, negligence, promissory estoppel, quantum meruit, and violation of the Texas Securities Act arising...more

The Tax Treatment of New French Residents – A Bird’s Eye View

by McDermott Will & Emery on

Although France is a high tax country, it might be a suitable alternative for the UK residents who are contemplating taking up temporary residency in another jurisdiction. A number of tax breaks are indeed granted to the...more

SEC Staff Issues New C&DIs Related to Foreign Issuers

by Morrison & Foerster LLP on

On December 8, 2016, the Securities and Exchange Commission’s (“SEC”) Division of Corporation Finance (the “Staff”) released several new compliance and disclosure interpretations (“C&DIs”) clarifying the definition of...more

Lower taxes on Italian new-residents | Insights | DLA Piper Global Law Firm

by DLA Piper on

The Italian Government has released a number of proposals in the Draft Budget Law aimed at encouraging international High Net worth individuals to live and invest in Italy. These include easier entry visas for foreign...more

SEC Adopts Final Rules to Facilitate Intrastate and Regional Securities Offerings

by Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) has adopted final rules modernizing and expanding the ways in which smaller companies can raise capital. Rule 147 of the Securities Act of 1933, as amended, provides a safe...more

NOTICE: SEC Adopts Rules to Facilitate Intrastate and Regional Securities Offerings

On October 26, 2016, the Securities and Exchange Commission (SEC) adopted final rules that modernize how companies can raise money to fund their businesses through intrastate and regional securities offerings....more

2016 New York Tax Update: Highlights and Lowlights

by Hodgson Russ LLP on

There wasn’t much in the way of substantive New York tax changes in the 2017 budget bill that Governor Andrew Cuomo signed in April. Or at least wasn’t much in the way of changes that affect the day-to-day practices of the...more

2016 Legislative Update: Summary of Changes in School Law

by Franczek Radelet P.C. on

BOARDS OF EDUCATION - ENFORCEMENT OF BINDING PUBLIC ACCESS COUNSELOR OPINIONS - Public Act 99-586 - Effective Date: January 1, 2017 - Individuals who file lawsuits to enforce binding opinions from the PAC...more

Student Residency Hearing Revisions to the Illinois School Code Effective January 1, 2017

by Franczek Radelet P.C. on

Effective January 1, 2017, the process by which school districts in Illinois may dispute student residency will fundamentally change. Public Act 99-0670 (HB 4606) was signed by Governor Rauner on July 29, 2016, amending...more

Global Investor Programme – Attracting high net worth individuals to Singapore

by Dentons on

High net worth individuals (“HNWI”) looking to relocate to Singapore may wish to consider the Global Investor Programme (“GIP”) for the purposes of obtaining residency status in Singapore. The GIP offers Permanent Resident...more

What’s to Come….

by Field Law on

There has been a lot of excitement lately, as the new Liberal Government has begun to address the promises made during their campaign last year. Proposed amendments to immigration legislation and policy are currently focused...more

Estate Planning Pitfall - You haven’t taken state estate taxes into account

A generous gift and estate tax exemption means only a small percentage of families are subject to federal estate taxes. But it’s important to consider state estate taxes as well. Although many states tie their exemption...more

Immigration Judges Retiring Among Surge in Cases

by Ronald Shapiro on

A shortage of immigration judges coupled with underfunding and an enormous backlog of immigration cases has created a bottleneck that has left the average immigration case pending for more than 600 days, according to various...more

Giving Up U.S. Citizenship - Estate and Gift Tax Traps

by Sanford Millar on

It may be a common misunderstanding that a U.S. citizen or permanent resident (Green Card holder) can give up their citizenship or surrender their Green Card and then as a non-U.S. taxpayer make gifts or pass their estate to...more

New Tennessee Tax Laws

by Burr & Forman on

The state of Tennessee recently enacted the Revenue Modernization Act (the "Act"). According to the state, while the legislation does not introduce any new taxes, it should raise revenue and create an even playing field in...more

Come What May: The Power of Testimony in Domicile Cases

by Hodgson Russ LLP on

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

International tax and withholding considerations for US companies and their directors

by DLA Piper on

To staff their board of directors with the best and most diverse talent, multinational companies commonly elect boards with international representation. It is also common for companies to convene periodic board meetings...more

Work and Resident Permits for Short-Term Working Foreigners

The Ministry of Human Resources and Social Security, the Ministry of Foreign Affairs, the Ministry of Public Security and the Ministry of Culture jointly issued a notice of the Relevant Handling Procedures for Foreigners...more

Coming to America (for Business) - Using the L1 Visa as an Alternative to EB 5

by Gerald Nowotny on

Overview - As a long term veteran of the financial services industry, I have learned that in many cases, people do not “buy” a product or service but instead are “sold”” the product or service that the advisor is...more

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