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California and New York: Tax Residency and Income Sourcing Refresher and Tips

CALIFORNIA AND NEW YORK: TAX RESIDENCY AND INCOME SOURCING REFRESHER AND TIPS

Cost Free
Presentation Length 1.5 hours

Recorded DateSeptember 28, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Series: Taxes
Course Description

State personal income tax issues are hotter than ever. As a result of the COVID-19 pandemic, more and more individuals are contemplating moves out of high tax jurisdictions. However, breaking and establishing tax residency is not as easy as one might hope. States, like California and New York, have distinct and complex rules that could jeopardize an otherwise clean break. This webinar will provide a refresher on the following topics, with a focus on California and New York.


Learning Objectives:


  • List tax domicile and residency rules

  • Identify sourcing rules for atypical compensation

  • Determine potential traps and pitfalls

  • Recognize unique opportunities to escape taxation

  • Define how to plan for an audit

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Jennifer is a partner in Reed Smith's New York office. She works with companies and individuals to assist in reducing state tax liabilities and to eliminate the risk of audit exposure. Jennifer's practice focuses on New York State and City, New Jersey, and Connecticut issues. She excels at providing effective and practical counsel that meets the unique goals of each client. Through years of work in private practice and time spent with the New York City Department of Finance, Jennifer has learned the most effective strategies to both settle and litigate cases, and most importantly, when to pursue each avenue of resolution.

In addition to her regional expertise, Jennifer helps many Fortune 500 companies manage their income, transaction, and withholding tax liabilities on a national scale. She is particularly adept at thinking beyond a single tax issue and leveraging her understanding of business operations and realities to
ensure clients are provided legal advice that meets the business needs of the company as a whole.

Jennifer also specializes in assisting high-net-worth individuals to reduce state personal income tax liabilities. She has successfully appealed many tax assessments asserted by state departments of revenue based on domicile, statutory residency, and income allocation allegations.
 

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Shail is a state tax partner in Reed Smith’s San Francisco office with more than 15 years of experience helping clients resolve California tax issues. He has successfully helped clients ranging from Fortune 25 companies to high net-worth individuals with complex California tax planning and representation in front of the California Franchise Tax Board (FTB), California Department of Taxation and Fee Administration (CDTFA), Office of Tax Appeals (OTA), Board of Equalization (BOE), and various administrative and judicial adjudicating forums at both the state and local levels in California. Prior to joining private practice Shail spent time as an attorney at the FTB and often draws upon his relationships with government attorneys to successfully resolve issues for clients without the need for litigation.

About Our Presenter

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Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, they deliver smarter, more creative legal services that drive better outcomes for their clients. Their deep industry knowledge, long-standing relationships and collaborative structure make us the go-to partner for complex disputes, transactions, and regulatory matters. Now celebrating more than 140 years of service, their firm spans 30 offices with 3,000 people, including 1,700 lawyers.