Estate Planning
Thinking of Moving to Florida? Maybe a Little Further South is a Better Option
Puerto Rico’s tax laws can offer substantial advantages for certain individuals and business owners willing to relocate, but those benefits depend on meeting strict residency and income-sourcing requirements. In this Bean, Kinney & Korman article, Jonathan C. Kinney and Samuel J. Banks explain how Puerto Rico’s Act 20 and Act 22 incentives may reduce taxes on active income, passive income, and certain capital gains for qualifying residents. The piece walks through the practical legal standards…
August 4, 2014