I'm changing jobs, and am getting a sign-on bonus for this job. The state where I am moving is decently taxed more than my current state. I realized that nearly 45% of this bonus is going too go away with taxes. I've received a decent amount of money every year from my tax return, and would really like to get as much of this sign on bonus up front and pay taxes on the back end if need be. I want to place 99 exemptions on my w4 and I would change it back when I officially start the job.

Has anybody ever done this? How frowned down is it? Does it target me for an audit?