ESTABLISHING FLORIDA DOMICILE FOR INCOME AND ESTATE TAX PLANNING—NOT SO SIMPLE

Norton Hammersley Business & Corporate Law, Firm News

Changes to the federal income tax law that limit deductions on state and local taxes have fueled a mini real estate boom in Florida, particularly for higher-end properties. Florida is attractive to residents from higher tax locales because it is one of only seven states that have no income tax, and it also has no estate or inheritance taxes. However, …