Advisers add that there’s nothing wrong with moving for tax reasons – even if it means New York, New Jersey or California lose out just before a big windfall. It’s just essential that their clients have taken all the proper steps beforehand.
“You can do it right,” said Verenda Smith, deputy director of the Federation of Tax Administrators. “You’ve just got to move. You’ve got to really leave the state with no intention of coming back.”
This article was provided by Bloomberg News.