NEW YORK – Donald Trump a Florida man? Not so fast.
Despite a stinging “good riddance” tweet from New York’s governor, the president’s home state may not let him go to Florida without a fight.
Trump’s plan to shift his permanent residence to Palm Beach will likely be heavily scrutinized by New York state officials, who are notorious for auditing wealthy residents seeking to flee to lower-tax states to make sure such moves are real and not just on paper. Those cases can go on for years.
“New York says just because you fill out a piece of paper, that doesn’t make you a Floridian,” said Mark Klein, a tax lawyer who has handled hundreds of tax-residency audits. “People have this misunderstanding that if you go to Florida and fill out an affidavit, you register to vote and you get a driver’s license, that is all it takes.”
Even though it appears Trump has a strong case – he’s only spent a few nights at his Trump Tower penthouse overlooking Fifth Avenue since he became president – tax experts say it’s not a matter of if he will be audited but when.
“It’s 100 per cent he’ll get audited,” predicted Barry Horowitz, a tax accountant who has handled many change-of-residency cases. “They’ll be a fight.”