For your wealthy clients that are looking to avoid state income taxes, one strategy to consider is to move their money and assets into trusts established in states with lower or even no tax, such as Delaware, Alaska and Nevada.
One such strategy is something an Incomplete Non-Grantor Trust, set up in Delaware (also known as a “DING”) and now its Nevada counterpart (“NING”).
See Bloomberg article: Wealthy N.Y. Residents Escape Tax With Trusts in Nevada
Also, you may be interested in our On-Demand Program with nationally renowned estate and asset protection attorneys, William Lipkind and Steven Oshins. See: “The NING Trust: Saving Significant State Income Taxes for Your Clients in High State Income Tax Jurisdictions“.