Changing Your Residence for Estate Tax Purposes Is ComplicatedFebruary 7, 2022 | Patricia C. Marcin | |
It has been a long, cold winter, and many of us are yearning for warmer weather. With New York’s fiscal crisis due to the pandemic, and the prospect of higher taxes, many are thinking about changing their primary residence to a warmer and “friendlier” taxing jurisdiction. While an easy topic of cocktail party talk, changing your residence for tax purposes is difficult, and New York is particularly aggressive when it comes to residency audits and the prospect of losing tax dollars.
This article appeared in the 2022 issue of WILS Connect, a publication of the Women in Law Section of the New York State Bar Association.
- Patricia C. Marcin