Simply Tax Episode 111: Change of Residency & the Illinois “Fair Tax”

Simply Tax Episode 111

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Change of state residency is on the minds of many these days, as we navigate a pandemic that has increased the prevalence of remote working and led some individuals to reevaluate where they live and work. State and local tax (SALT) attorney David Hughes joins host Damien Martin for an in-depth discussion on the topic of residency and a constitutional amendment on the 2020 Illinois ballot that would allow graduated income tax rates. Here’s what’s covered:

  • The Illinois “Fair Tax” @02:28
  • Some potential ramifications of a graduated income tax @14:34
  • Circumstances where changing residency may make sense and be a viable option @21:58
  • Factors for evaluating a change of residency @27:11
  • Overcoming a presumption of residency @36:56
  • Best practice for approaching SALT implications of telecommuting amid the pandemic @47:05

BIO FOR GUEST

David A. Hughes is a partner in HMB Legal Counsel’s State and Local Tax Group. David helps clients limit their SALT exposure through sensible planning and, when necessary, vigorous litigation strategies. He advises Fortune 500 companies, privately-held companies, middle-market businesses, and individuals on strategies to minimize their SALT exposure, maintain compliance, and reduce the risk of audit problems. This includes income tax, sales/use tax, franchise tax, gross receipts tax, and unclaimed property matters involving nexus, apportionment, business income, unitary business groups, credits, losses, and exemptions. In addition to helping clients all over the country structure their businesses to reduce SALT liabilities, David represents them in audits, administrative proceedings, litigation, and appeals. He has argued cases for clients at the Illinois Supreme Court, Illinois Appellate Court, and New York Supreme Court (Appellate Division). David also is an active thought leader and speaker in the SALT community and an adjunct professor at Northwestern University Pritzker School of Law.

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