- $0 in Florida State income tax, down from top rates in New York state of 9% and New York City of 4%.
- $0 in Florida Estate tax, down from New York’s estate tax, which can be as high as 16%, and
- Florida provides significant asset protections via its generous homestead exemption laws.
In such an audit, New York will likely look to see if Trump has stopped spending much time in New York, which for the time being it appears that he has, and how much time and connection he has now established in Florida. That includes not just time spent in Florida, but things such as registering to vote in the state, setting up bank accounts, and visiting Florida doctors and other professional people in Florida.
You need to prove by clear and convincing evidence that you not only left first state, New York, but relocated to the new state, Florida.
Need To Change Your Domicile For Tax Savings?
Contact the Tax Lawyers at
Marini& Associates, P.A.
for a FREE Tax Consultation at:
or Toll Free at 888-8TaxAid (888) 882-9243
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