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
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
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
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
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
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
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
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
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
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
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