Tax Resolution & Advisory Services: Insights from Straight Arrow News on Multi-State Wealth Tax Residency Battles
Straight Arrow News recently published an article featuring Marisa Friedrich, discussing the residency proof challenges states like California, New York and Washington face as they roll out new taxes on wealthy residents.
“Most of them all have the same underlying factors and situations that they look to,” Friedrich, director of the tax resolution and advisory group at Kaufman Rossin, told Straight Arrow. “Where’s your home? Where are you spending time? Where’s your family? Where are your things?” She explained that changing domicile means moving substantial ties to the new state while showing they’re no longer strong in the old one — and that in California, spending more than 270 days in-state can trigger residency regardless of stated intent.
As more coastal states pursue wealth, property and income taxes aimed at high-net-worth individuals, the burden of proving where someone truly lives is falling increasingly on the taxpayer. Anyone planning a move, or already facing scrutiny over where they’re domiciled, should get ahead of the documentation before a state audit does.
Read the full article in Straight Arrow News.
Want to explore how a multi-state move could affect your tax position? Connect with our Tax Resolution & Advisory Services team to learn more.
Marisa Friedrich Tax Director at Kaufman Rossin, one of the Top 50 CPA and advisory firms in the U.S.
