Donald Trump and his wife Melania just moved their residence from Manhattan (New York) to Palm Beach (Florida) and filed a declaration of domicile in Florida. Like many millionaires in New York, Trump wants to escape from the heavy taxes New York state imposes to its residents.
Trump has a luxury property in Mar-a-Lago, where now it should be his permanent residence and domicile. Trump and Melania also registered to vote in Florida and have done other things to accomplish the status of the new residents in the Sunshine State.
Well, at least that is what Trump wants. But the state of New York does not!
The state where Trump has lived and built a fortune, specially in Real Estate investments, wants to keep collecting taxes from him.
And this is not an exclusive burden for Donald Trump and his wife. Just buying a luxury condo in Miami is not enough to qualify for a non resident in the eyes of the New York State tax officials.
In the article The concept of a domicile in the eyes of New York State tax officials we explain the concept of domicile and why is not that easy to convince New York state tax officials that you are no longer a New York resident for tax purposes.
About AMG Realty
AMG International Realty is a full-service brokerage firm in Florida. We are your one-stop-shop regarding Real Estate and related services. We have a full network of professionals in different areas such as experienced tax lawyers and accountants that we can refer in order to make your relocating easier and planned. If you are considering moving to Florida, call me today: + 1 (305) 318 6968 (Heloisa Arazi).