How to Leave Massachusetts (and Its Taxes) Behind: A Roadmap
Tax Briefings 2015 (4:00 p.m. - 5:45 p.m.)
Our Tax Briefings seminar, “How to Leave Massachusetts (and Its Taxes) Behind: A Roadmap,” was led by Joseph B. Darby III, Joseph X. Donovan, Richard L. Jones and David J. Nagle. The seminar explained how to avoid Massachusetts domicile, particularly if you are currently a Massachusetts resident and wish to reside elsewhere. This change of tax status is based on a variety of factors, including a simple and forthright desire to move to another state, but it often entails lingering tax consequences, as the individual attempts to sever the relationship with Massachusetts and initiate residency elsewhere. This seminar reviewed the often picayune and nuanced factors that can cause the Massachusetts Department of Revenue (DOR) to disregard a change of residency and treat an individual as a Massachusetts taxpayer. The stakes are often high, especially in a year when an individual may sell an interest in a business, or engage in another major tax transaction. This seminar helped individuals better understand the steps they need to take if they truly wish to terminate their Massachusetts residency.