As a result of TCJA, Covid-19, civil unrest and states raising taxes, more and more wealthy taxpayers are moving to no- or low-tax states. In this session, we will discuss the rules applicable throughout the U.S. that impact a state's ability to challenge a taxpayer's residency, as well as recent developments that affect the state taxation of trusts.
Identify what it takes to get a state to accept a taxpayer's change of tax residence.
Understand the various tricks and traps associated with a change of domicile.
Identify the factors that affect the state taxation of trusts