Avoiding New York Residency Audits

There has been a growing trend of individuals who are moving from high-income-tax states like New York to low or no-income-tax states such as Florida, Texas, or Nevada. Changing your tax residency can result in significant savings; however, executing this change incorrectly, or failing to document it properly, can lead to costly consequences, including back taxes, interest, penalties, and time-consuming audits.