Coastal States Face Heavy Lift to Extract Taxes From Wealthy Residents
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Straight Arrow News
As states explore new ways to address budget shortfalls, questions surrounding residency and domicile remain central to efforts to tax high-net-worth individuals. In Straight Arrow News, Hodgson Russ Partner Tim Noonan provided insight into the challenges states face when attempting to establish residency for tax purposes, particularly as wealth taxes and similar measures gain traction in states like California, New York, and Washington. Tim explained how domicile determinations are made, the burden taxpayers face when proving they have relocated, and why affluent individuals often have the resources to successfully challenge residency claims. Read "Coastal States Face Heavy Lift to Extract Taxes From Wealthy Residents" here.