Change Of Residency and the Illinois "Fair Tax" #111

Simply Tax

Change of state residency is on the minds of many these days, as we navigate a pandemic that has increased the prevalence of remote working and led some individuals to reevaluate where they live and work. State and local tax (SALT) attorney David Hughes joins host Damien Martin for an in-depth discussion on the topic of residency and a constitutional amendment on the 2020 Illinois ballot that would allow graduated income tax rates. Here’s what’s covered:

• The Illinois “Fair Tax” @02:28
• Some potential ramifications of a graduated income tax @14:34
• Circumstances where changing residency may make sense and be a viable option @21:58
• Factors for evaluating a change of residency @27:11
• Overcoming a presumption of residency @36:56
• Best practice for approaching SALT implications of telecommuting amid the pandemic @47:05

Learn more about our guest and get additional resources here.

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