The economic impact of the Novel Coronavirus has left states with no option but to increase taxes. This, of course, is exacerbated by the TCJA’s virtual elimination of the SALT deduction. As a result, more and more taxpayers are considering moving, often to no- or low-tax states.
This session will discuss the rules applicable throughout the United States that impact a state's ability to challenge a taxpayer's residency. Recent developments that affect the state taxation of trusts will also be covered.