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Will Trump escape New York taxes with Florida move?

November 11, 2019

President Trump on Thursday night said he changed his residency to low-tax Florida after paying “millions of dollars” in taxes as a New York resident, but the process is likely to be more difficult than simply declaring a change of domicile.

In order to dodge taxes in New York … Trump needs to do a lot to prove to the state that he has actually changed his residence. … That could be particularly problematic considering his family business is headquartered in New York.

“I think so much of this is going to depend upon where he ends after the presidency – that’s really the starting point of any exam,” Lou Vlahos, partner at law firm Farrell Fritz, told FOX Business.

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  • Related Practice Areas: Tax
  • Featured Attorneys: Louis Vlahos
  • Publications: FOX Business