Considering a change of tax residency? Here’s what you need to know
The so-called “Millionaire’s Tax” is likely to be on the ballot for Massachusetts voters in 2022. This proposed legislation would impose an additional 4% tax on earnings above $1,000,000 beginning in 2023. Before high earners consider relocating, they should be aware that even nonresidents must pay tax on income from Massachusetts sources. Those who […]