No, in fact it is best if the tape is removed from the painted surface before it has dried. This prevents the paint and the tape from bonding, which can result in a jagged edge when the tape is removed, taking pieces of paint with it.
If your paint has dried completely, you can still prevent the tape from taking paint chips with it by using a razor blade to break the bond between the tape and the paint. Simply run the blade along the edge of the tape and then pull back slowly. If you hear ripping noises, you are pulling the tape too fast!
Remember, the entire painting process is a slow and steady one.