Although the terms domicile and residence tend to be used interchangeably they may not mean the same thing when referring to state personal income taxation. As a general rule, “residence” is treated as the place where you are temporarily located and “domicile” is treated as the place where you intend to permanently return. A clearer way to state it is a person can have multiple residences but only one domicile.
Important disclosure information
Please remember that different types of investments involve varying degrees of risk, including the loss of money invested. Past performance may not be indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or undertaken by RegentAtlantic Capital, LLC (“RegentAtlantic”) will be profitable.
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