New York’s $34,000,000,000 Problem Is Coming for Snowbirds

Ajouté : 2026-05-21

[00:00:00]New York is facing a massive 34.3 billion dollar cumulative budget gap through 2029. That's the number 34 followed by nine zeros. It's the worst since the 2009 financial crisis. So, what are they doing? They really only have three options. Aggressively cut spending, increase taxes, or do both.

[00:00:16]What was their decision? Aggressively go after snowbirds trying to escape to Florida and the South like East Germany did before the wall came down. Don't believe me? Take a look at the brand new Hoff and O'Connor Hoff decision from the New York Tax Appeals Tribunal. This couple in their 60s thought they did everything perfectly. Florida condo, Florida driver's licenses, Florida voter registration, formal declaration of domicile, cars registered [music] in Florida. They even updated their estate planning documents to Florida law. They told everyone they were basically Florida residents now. Then the audit letter arrived. Cell phone records showed they still spent more time in New York. 186 days one year, 164 the next.

[00:00:50]That's [music] right. The taxman requested the cell phone data to prove where these alleged NY tax dodgers really were. He was still actively running his New York business and pulling a significant salary. She was operating her own business out of Rochester. They kept their country club memberships up north. Apparently that was enough. The tribunal ruled they never truly abandoned New York as their domicile. They owed roughly $60,000 in back taxes plus interest and penalties.

[00:01:12][music] This case is destroying the classic snowbird strategy because in New York spending almost half of your time in Florida, having a Florida driver's license, Florida condo, Florida voter registration, formal declaration of Florida domicile, Florida registered cars, and a Florida estate plan are just not enough. You need clear and convincing evidence that your real life has moved south. The 183-day rule is just the beginning, not the finish line.

[00:01:34]You're a snowbird from a state in a budget crisis, it's probably time to take a close look at your residency and maybe consider spending more time in a state like Florida with no state income tax.