Tax
Sep. 12, 2019
Puerto Rico, a US commonwealth, presents unique tax issues
Predictably, most of the movement seems to be directed to tax-free states like Texas, Florida, Washington or Nevada. But Puerto Rico is a U.S. commonwealth. It is a part of the U.S. but in some ways still independent. Its tax system is a hybrid, part U.S., part not.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Many Americans feel over-taxed despite modest tax cuts in 2017. State income taxes can be especially annoying. It was never pleasant to pay huge amounts of state taxes in California, New York or anywhere else. But now that you can deduct only $10,000 of state and local taxes on your federal tax return, you might feel like you got lemon juice in an already painful paper cut. Understandably, some people focus on state taxes.
Predictabl...
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