Ask HN: Move to Puerto Rico and Pay No Federal Income Tax?

2 points by randomacct3847 7y ago ↗ HN

A friend told me you pay no federal personal income tax if you are a resident of Puerto Rico. Upon Googling it, it seems to be true. If I have an upcoming IPO windfall, what is the downside of moving to Puerto Rico for a year to sell while a resident there? It all seems too good to be true.

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gigatexal 7y ago ↗

Maybe to a CPA and a lawyer? Or in the very least one of the stack exchange properties. Seems odd to seek such advice here but I would be interested if anyone else has found this loop hole and used it too I guess.