Mass. Millionaires' Loss Is Attys' Gain As Tax Measure Passes
Daniel Ryan was quoted in the article "Mass. Millionaires' Loss Is Attys' Gain As Tax Measure Passes," published by Law360 [sub. req'd].
The article discusses the legal fallout from Massachusetts' newly passed Fair Share Amendment, or "millionaire's tax," which will add a 4% surtax for state residents with incomes over $1 million.
Commenting on the reaction he has seen from Massachusetts' high earners in the lead-up to the ballot question, Dan says: "There had been a bit of a lull on the domicile front and, all of a sudden, within the last 30-to-60 days, we have been getting calls about people finally making the decision to leave [Massachusetts]. It's anecdotal, so it's hard to say, but I do think this is going to result in some people leaving, though the amount of people is almost impossible to say."
"It's a lot easier now to work remotely in a different state," Dan continues. "What the lockdown and the pandemic showed us is you can do your job as easily from Florida, or New Hampshire, or any other state without income tax."