There are plenty of reasons why President Donald Trump would leave the Empire State: the cold winters, the traffic and the high taxes. State auditors may not let him go without a fight. Here's why.
To be considered a statutory resident — and to be taxed as a resident of that state — you must have spent 183 days there during the year and you must maintain a permanent place of abode there.that determine whether your true home — the place you return to after you've been on the road — is in fact that state.Steve Nehf | The Denver Post | Getty ImagesYou can have many residences but only one domicile.
He listed Trump Tower as his "former residence," according to paperwork he filed with Florida's Palm Beach County."The best way to do it is to give up all ties to New York and sell your home, so there is no possible question that you've moved," said Bruce D. Steiner, an attorney at Kleinberg Kaplan in New York.If you have a business headquartered in the Empire State and maintain an office there, an auditor might argue that you're probably spending time there, too.
In Trump's case, if he collects income from real estate properties that he owns in New York, then that income is still subject to that state's taxes, Klein said.Further, even though he's collecting W-2 income as president, Trump will be subject to state taxes if he visits the Empire State for a day. That's because technically some of his income will have been earned in New York, Klein said.
"What I tell people is this, you need to have your head on the pillow for two nights in the new home for every one you spend in the old," said Klein. Auditors want to know where you spend your weekends and where does your spouse wait for you when you're traveling. Both are indications of where your true home base is.State tax auditors want to know where you keep the things that are most valuable to you, including your family photos and your grandmother's china set, Klein said.
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