A risky tax tactic

  @FortuneMagazine June 13, 2013: 7:19 AM ET
WEA01 moving states

The thorny topic of offshore tax havens took center stage recently when Apple CEO Tim Cook was grilled by U.S. senators about the company's tax-minimizing maneuvers. While many wealthy individuals take advantage of exotic locales to shelter income, a far more common tactic is to move from one U.S. state to another. Such a move can pay off nicely, but caution is warranted: The price you pay for any missteps could far outstrip the tax savings.

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