NY Residency Ruling Shortens Leash For Auditors

Law360, New York (February 20, 2014, 7:40 PM EST) -- A decision by New York's highest court Tuesday to rein in the state taxing authority's broad interpretation of "residency" for income tax purposes gives high net worth taxpayers a new weapon in fighting off auditors' claims that their second homes subject them to personal income tax.

The New York State Court of Appeals' decision in John Gaied v. New York State Tax Appeals Tribunal is the first in recent history to take up the issue of residency, and it rejected the state’s previous policy of taxing...
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