The lawyers in Ballard Spahr's State Residency Tax practice advise founders, investors, executives, and high-net-worth individuals from coast to coast on domicile changes, residency audits, qualified small business stock (QSBS) planning under Internal Revenue Code Section 1202, tax insurance, and the full range of state tax exposure that arises before, during, and after major life changes and business transactions.
Clients rely on our team to navigate state-by-state residency rules, which are increasingly consequential as more individuals reassess where to live, work, and hold assets. We help clients evaluate domicile risk, develop relocation strategies, document residency positions, prepare for and respond to audits, and understand how state law may affect capital gains, QSBS exclusions, estate planning, and other high-value tax considerations.
Our coast-to-coast State Residency Tax team works closely with colleagues in the firm’s Private Client Services, Mergers and Acquisitions, Emerging Companies and Venture Capital, Transportation & Logistics, and other groups, as needed, to provide integrated guidance for clients with residency questions that often intersect with business sales, liquidity events, and wealth planning. We also assist clients considering tax insurance as part of a broader risk management strategy and work directly with insurance brokers to evaluate residency risk and assess potential coverage.