[ Offshore Tax ] Today's Thought - Do Expats Still Have To Pay State Taxes

Many US #expats and US #InternationalEntrepreneurs, may reside outside of the US but have State tax responsibilities.

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DERREN JOSEPH:

Most states in the US-domiciled states. What does that mean? It means that under certain circumstances you have 50 different states, 50 different rules, but in certain circumstances, even though you have not been resident in that state for years, you may still be domiciled there, under certain circumstances, and they can still retain the ability to tax you in your worldwide income. And you're thinking, well, I'm outside of the US I don't care, but at some point in time, you may return. And remember, the federal government does speak to the franchise tax boards within each state. They may figure out when you're back and then you welcome back home or the huge tax bill. We see it happening all the time, and we've helped clients through that.

VOICE-OVER:

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