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If a person wins, let's say, the equivalent of US$ 300 million in another country, goes to New York City and buys a house there, they certainly need to report their own residence in order to live there.

But what about tax returns or taxes in general?

I know that the US have a clingy nature when it comes to tax returns and related things.

Are tax returns based on incomes or are they based upon wealth as well?

Obviously a wise person would transfer part of that money in a NYC bank, so is this person subject to taxes provided that they'll not be working or conduct any other remunerative activity, and supposedly, use that wealth to provide for themselves?

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they certainly need to report their own residence in order to live there.

This is incorrect. There is no requirement to register with the place of residence in the United States. People who are not citizens of the United States need to comply with immigration law in order for their presence in the United States to be lawful, and there is indeed federal alien registration, but that takes place automatically at the consulate as part of a visa application and at the border when the person's entry into the US is recorded.

But what about tax returns or taxes in general?

...

Are tax returns based on incomes or are they based upon wealth as well?

The US taxes incomes. Local jurisdictions generally tax real property. New York City is no exception. There will therefore be property taxes on the apartment.

Income taxes cover unearned income, so if the money "in the bank" generates interest income (or capital gains if it isn't literally in the bank but invested in some asset) then that income will be taxed.

A tax resident of the US is liable for taxation on income from sources outside the US, so leaving some of the money invested outside the US will not relieve the person from liability for taxation on income from those assets.

Anyone thinking of doing this should retain a tax lawyer for specific individualized advice.

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  • What if I decide to open a bank-account without interests? I want nothing but holding of that money. – abdul Nov 16 '19 at 14:44
  • I thought that only US citizens were taxed also over incomes who are external to the US. – abdul Nov 16 '19 at 14:47
  • @abdul if you earn no interest you pay no taxes. But that would be foolish: the taxes you pay are a percentage of the income, which means you keep some of the income (most, in fact) so your financial position is better than it would be if you had no income at all. If you have $300,000,000 and you earn 1% interest and pay 50% tax on those earnings you end up with $1,500,000 more than you had to start. – phoog Nov 16 '19 at 14:52
  • @abdul it's US citizens and US residents. Anyway, the first thing you'd have to worry about is what visa you could get that would allow you to stay in the US for longer than six months. – phoog Nov 16 '19 at 14:52
  • Because some people deem interest as unethical, especially Muslims, but that's another topic in and of itself. – abdul Nov 16 '19 at 15:08

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