Florida residency

[Mistybuffy3]

Can someone explain pros/ cons of changing residency from ny to Florida? We have homes in both and will continue that for at least a few years.

[retiredguy123]

The biggest advantages are no state income tax, and the Homestead exemption on your property tax.. You also get a discount on Disney World tickets. The biggest disadvantage may be a higher cost for auto insurance.

[Chellybean]

The biggest advantages are no state income tax, and the Homestead exemption on your property tax.. You also get a discount on Disney World tickets. The biggest disadvantage may be a higher cost for auto insurance.

i agree with everything except maybe auto insurance.
If you bundle everything you may be ok if your claim and driving record is ok. Try State Farm on 301 office by 44 Nathan Thomas 352-748-5272 Debbie the owner my is a peach

[blueash]

There are rules to defining your residency which have been discussed on this website, sometimes accurately, sometimes not, many times. The piece of mis-information most common here is that if you are a Florida resident you will not owe NY income taxes. False. You will still owe NY taxes on income earned in NY (https://www.tax.ny.gov/pit/file/nonresidents.htm). However income earned not specifically in NY will become not NY taxable.

[The Gerbs]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

[UpNorth]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

And, keep all the stuff that's "near and dear" to you at your Florida residence. Family photos, awards, stamp collections, etc. If they do an audit on you, they would use stuff like this to show that you are still a "NY resident" despite the fact that you spend 6+ months in Florida. And get a Florida doctor and dentist down here, along with a bank that has Florida branches and a safe deposit box. NY and other states are desperate for tax dollars and don't want to lose you. Be prepared in case they challenge you.

[Spoiler]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

New here also and I could be mistaken but I thought Florida residency just required wearing short pants more than 6 months of the year.

[villagetinker]

OP, you may want to discuss this with your financial advisor as well as an elder care lawyer, your health insurance provider, etc. There are a LOT of things to consider. We avoided all of this by cutting the cord and moving permanently.

[Nucky]

Everything that was pointed out about the benefits of Florida Residency is true.

The feeling of not being a New Jerseyian Officially is very freeing. What is happening there tax-wise is still affecting me because it is hurting all of our children.

Being a Floridian is the best except for the peak of Hurricane Season. The only drawback. But NJ just had a Tornado several days back, go figure.

I love the Homestead Exemption the most and the Property Taxes as far as Florida VS. New Jersey.

I always speak of N.J. roughly but it had many good points also. The Turnpike is not what the entire state is all about.

Florida is way better. It's a Florida state of mind.

[JoMar]

It's always difficult to move if it has not been your life. Relocation for work makes it easier but the memories, long term friends, family will always remain with you. We came here five years ago, permanently, kids were upset..."what about the grand kids". The grand kids were "really, Florida, Disney, no snow, can we come down". The kids got over it and visit often. The grand kids out grew us and have their own friends and life but are here several times a year. Our friends from PA also show up (sometimes too often). Don't build false walls to prevent your life from moving forward.

[Chatbrat]

The one feeling that is sooo good was removing the NJ auto inspection from our windshields, --its a sense of freedom

[billethkid]

It's always difficult to move if it has not been your life. Relocation for work makes it easier but the memories, long term friends, family will always remain with you. We came here five years ago, permanently, kids were upset..."what about the grand kids". The grand kids were "really, Florida, Disney, no snow, can we come down". The kids got over it and visit often. The grand kids out grew us and have their own friends and life but are here several times a year. Our friends from PA also show up (sometimes too often). Don't build false walls to prevent your life from moving forward.

The most valid short version!!

[ckcapaul]

We became Florida residents this year, saved the income tax from Minnesota, homestead credit here. Auto insurance similar prices.

Requirement is to be out of Minnesota for 6 months and a day. Florida does not care how long you are here.

Son in Florida, daughter in Texas, so travel back and forth by way of Texas.

[Madelaine Amee]

We were residents of both Massachusetts and NH. We decided to sell up in Mass and move permanently to NH - it is a very poor State with no income tax revenue so everything is paid for through property taxes and sales tax. We had intended to live out our lives in NH and I attended many Elder Seminars and found out that NH death duties are brutal, we took out a Trust to cover our assets.

We purchased a home in Florida and saw an Elder Law expert here and found that Florida is much kinder to old people than NH. Our Attorney told us NH would have taken EVERYTHING we owned including our underwear(!) had we continued to live there. If we are forced through ill health to return to NH the first thing I would do is consult n Attorney.

It was suggested in an earlier post that you contact an Attorney specializing in Elder Law and that is exactly what you should do in order to find out what your obligations to NY are and what the benefits of Fl are.

[Chatbrat]

And Carl Icahn--people are voting with their wallets, we did

[rjn5656]

State and Property taxes. Can't go wrong. If you really need someplace up there, get a small apt.

[tophcfa]

The biggest advantages are no state income tax, and the Homestead exemption on your property tax.. You also get a discount on Disney World tickets. The biggest disadvantage may be a higher cost for auto insurance.

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

I would love to change my residency from Massachusetts to Florida to save on income taxes and get the property tax homestead exemption. It would also be nice to have my vote actually matter in a national election. I find the biggest obstacle to changing residency is medical insurance. Since both my wife and I are not yet eligable for Medicare, and do not get employer provided insurance, we have to buy our insurance through the Massachusetts state exchange, which requires us to be Massachusetts residents. We still spend about half our time up north and very much like both our doctors and the quality of our health care options up north and don't want to give that up yet.

[Madelaine Amee]

I would love to change my residency from Massachusetts to Florida to save on income taxes and get the property tax homestead exemption. It would also be nice to have my vote actually matter in a national election. I find the biggest obstacle to changing residency is medical insurance. Since both my wife and I are not yet eligable for Medicare, and do not get employer provided insurance, we have to buy our insurance through the Massachusetts state exchange, which requires us to be Massachusetts residents. We still spend about half our time up north and very much like both our doctors and the quality of our health care options up north and don't want to give that up yet.

It could be you are too young to make this decision yet. We were in our mid 60s when we made our decision.

[pacjag]

Here is the bottom line:

State of Florida.com | Florida Residency (https://www.stateofflorida.com/residency/)

[EdFNJ]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...
HUH? I believe that is INCORRECT. Aside from the fact we became official residents immediately by turning in our NJ drivers license, showing our NJ home was sold and that we purchased a home here and signed a few forms. We became "official" residents immediately. We did miss our homestead deduction by 7 DAYS for 2017 because we moved here officially on Jan 7th. Had it been Dec 31 2016 we'd have had immediate homestead rebate per the tax guy over on Powell Rd.

You might want to read this: How to Become a Florida Resident, Officially (https://www.thebalance.com/how-to-become-a-florida-resident-officially-3505215) (or write to 1600 Pennsylvania Ave).

[C. C. Rider]

Here is the bottom line:

State of Florida.com | Florida Residency (https://www.stateofflorida.com/residency/)

That is correct. Florida residency requirements have nothing to do with how many days or nights you are in Florida. It's all about "intent" as evidenced by your actions with regard to legal and financial matters, not where you sleep.

A few examples of things that are considered as evidence of your intent are a declaration of domicile, registration of automobiles, driver's license, voter's registration, Florida resident address on your federal tax return, and Florida address on any other document that asks about your principle residency.

So, get you a place in Florida (rental is OK), turn in your driver's license from NY and get one from FL, register your car(s) in Florida, register to vote in FL, file a declaration of domicile with the county clerk in your Florida county, list your Florida address on your Federal taxes, and put a Florida Gators sticker on your bumper, and you're a Florida resident... just kidding about the bumper sticker. :)

[rjm1cc]

Can someone explain pros/ cons of changing residency from ny to Florida? We have homes in both and will continue that for at least a few years.

Save money if you are here 6 months plus a day.

[tophcfa]

That is correct. Florida residency requirements have nothing to do with how many days or nights you are in Florida. It's all about "intent" as evidenced by your actions with regard to legal and financial matters, not where you sleep.

A few examples of things that are considered as evidence of your intent are a declaration of domicile, registration of automobiles, driver's license, voter's registration, Florida resident address on your federal tax return, and Florida address on any other document that asks about your principle residency.

So, get you a place in Florida (rental is OK), turn in your driver's license from NY and get one from FL, register your car(s) in Florida, register to vote in FL, file a declaration of domicile with the county clerk in your Florida county, list your Florida address on your Federal taxes, and put a Florida Gators sticker on your bumper, and you're a Florida resident... just kidding about the bumper sticker. :)

You are forgetting the most important one, where is your health insurance?

[GoPacers]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

Likely not an issue for most people but be careful, not all states have the same residency requirements. Just because you meet the residency requirements in one state does not mean you may not also meet the residency requirements in another state. Best to consult with your tax advisor if you spend time in multiple locations.

TOTV doesn't qualify as a tax advisor...

[2newyorkers]

We also have a home in both NY and TV. If you become a Florida resident you lose your Star benefit on NY property taxes but then you can claim Homestead in Florida. If you pay property taxes in Florida you can get a Florida resident pass to Disney.

[Seacoast1]

[QUOTE=Madelaine Amee;169314
to NH - it is a very poor State with no income tax revenue so everything is paid for through property taxes and sales tax. ]


NH does NOT have a sales tax.



Sent from my iPad using Tapatalk

[PennBF]

We had a home in New York and a Home in Florida with overlaps for about 6-7 years. It is expensive to pay for a home in New York 4-5 months a year and hard to justify the added costs. Would recommend selling the one in the North and identifying Florida as prime residency. There are added taxes, communite costs, and all the rest that go with paying for a home site. A lot do it for the kids. It is better to fly up and fly them down. :ho:

[M2inOR]

We are in the process of doing this, having purchased a home in Marsh Bend a few months ago. Our home in Oregon is not yet on the market, as we have 40 years of memories to think about - what to donate, what to toss in the trash, and what to move to Florida.

We also travel quite a bit, so never spend 6 months in any one place, neither in total, nor continuously. We keep a travel log.

Oregon is also a very high tax state - income and property taxes - just like NY, NJ, and CA. Additionally, estate taxes can be a burden if your assets aren't liquid. Sure, no sales tax here, but our acquisition years are long gone.

As others have stated, if you have homes and income in different states, you still have to pay property taxes in each state, and pay income tax to the states you earn that income. Therefore, it is important to discuss with your lawyer and financial adviser to arrange your finances properly.

We completed some of the necessary steps already - drivers license, voter registration, financial accounts, and have a few more steps to complete - Medicare, estate plan, domicile declaration, car registration, to name a few. Since we are in the process of selling our home and also traveling, there's a few details that will take time and effort. We will have one car in Florida, and one in Oregon.

Our son, DiL, and grandson live in Georgia so being closer that was one of the reasons; taxes another; activities and weather, another.

I think we are following the right steps to permanently change our domicile to Florida; we even have our Disney annual pass already. <smile>

Finally, be sure to understand the difference between residency and domicile. One can have many residences, but only one domicile. If you have income from several states, you may need to file a tax return in each of them. If you own real estate in several states, you will have to still pay property taxes in each of them. And yes, states are hungry for tax revenue so be prepared for a challenge if you stop filing a return to your original state. Seek professional advise; TOTV is not an official adviser; it's only a data point.

[EdFNJ]

Save money if you are here 6 months plus a day.
You comment is NOT correct. It has nothing to do with "6 months plus a day." You can become a resident the first day you move here (as I did). There are at least 2 other posts in this thread with explanations and links to the actual requirements.

[Madelaine Amee]

[QUOTE=Madelaine Amee;169314
to NH - it is a very poor State with no income tax revenue so everything is paid for through property taxes and sales tax. ]


NH does NOT have a sales tax.



Sent from my iPad using Tapatalk

You are, of course, correct. NO SALES Tax in NH, but lots of other little hidden taxes which we always referred to as sales tax in error.

[yabbadu]

New here also and I could be mistaken but I thought Florida residency just required wearing short pants more than 6 months of the year.


So true :bigbow:

[retiredguy123]

The 6 month rule for Florida residency is bogus. There are lots of people who establish a Florida residency, buy an RV, and live in the RV and almost never come to Florida. There are even companies that will assist you in setting it up and will handle your mail.

[Ben Franklin]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...


Not true. There is no time qualifier. One must register to vote and change their driver's license, plus sign an affidavit that they don't homestead in another state. That 6 month thing is an old wives tale, most likely started by someone from NY, as that was their requirement. Call your county property appraiser, if you want to hear it from the source.

[manaboutown]

High tax states are reluctant to lose the tax money their high income residents must pay. Even if one moves to a low tax state such as Florida and establishes residency there the other state may not recognize a transfer of residency and continue to claim that person as a resident. They may track where one is as they want to show residency by where one spends the most time which tends to be the primary test as they see things although many other factors need to be considered.. I know of an attorney who moved to Texas from California. CA is now tracking where his cell phone is used. They can also track where one uses a credit card and much more, all to collect income taxes from high income people. So, if in doubt please seek good legal counsel and follow the rules.

The infamous case of John Thompson Dorrance shocks me to the core. His estate was forced to pay full estate taxes to two separate States, PA and NJ as he maintained homes in both states. That outcome is double taxation which just does not seem right to me. John Thompson Dorrance - Wikipedia (https://en.wikipedia.org/wiki/John_Thompson_Dorrance)

[Altavia]

Another example of double taxation related to relocating.

If you buy a car in another state, and move to FL within 6 months of that purchase, you have to pay sales tax to FL a second time.

[GoPacers]

Another example of double taxation related to relocating.

If you buy a car in another state, and move to FL within 6 months of that purchase, you have to pay sales tax to FL a second time.

Not sure where you got this.

https://floridarevenue.com/Forms_library/current/gt800030.pdf

Almost all states require a "true-up" in sales tax on an automobile purchase if the car was purchased in another state and the sales tax collected was lower than the resident's state sales tax. This is not double taxation. This happens quite frequently with internet car sales and is nothing special to Florida. There is actually good reason for this but not worth debating here.

[Altavia]

Not sure where you got this.

https://floridarevenue.com/Forms_library/current/gt800030.pdf

Almost all states require a "true-up" in sales tax on an automobile purchase if the car was purchased in another state and the sales tax collected was lower than the resident's state sales tax. This is not double taxation. This happens quite frequently with internet car sales and is nothing special to Florida. There is actually good reason for this but not worth debating here.

Thanks for clarifying, I must have misunderstood when trying to get my plates at the Sumter DMV...

I was not a FL resident when purchasing the vehicle while living in my previous state. Moved here a month later.

[Altavia]

Florida provides a true-up for state sales tax paid to another state, but not local sales tax paid in another state.

If the vehicle is acquired from out of state, 6% Sales Tax is due on the purchase price of the vehicle. If the vehicle was titled in the applicant's name less than 6 months prior to being titled in the state of Florida proof of the purchase price and the amount of sales tax that was paid must be submitted. If the amount paid was less than 6% Florida will collect the difference. If applicant’s residency is outside of County there may be an additional Discretionary Tax. If the vehicle was titled in the applicants name for more than 6 months prior to taking title in Florida, no sales tax is due.

[Tom53]

I believe that the "6 month" residency belief stems from the hotel tax. You will pay sales tax and hotel tax (total 11%) for a rental of 6 months or less. If you rent for a minimum 6 months and 1 day, you are exempt from the tax, which is a substantial savings, but has nothing to do with residency.

[tophcfa]

Just a word of advise, don't even waste your time attempting to change your state of domicile if you want to change away from a high tax state where you plan to maintain your health insurance coverage. They track you through Obamacare, and you can't get out of the database unless you change your health insurance to the state where you clam domicile.

[rjm1cc]

I believe that the "6 month" residency belief stems from the hotel tax. You will pay sales tax and hotel tax (total 11%) for a rental of 6 months or less. If you rent for a minimum 6 months and 1 day, you are exempt from the tax, which is a substantial savings, but has nothing to do with residency.

When you move to FL and declare yourself a Fl resident you are a FL resident as of that day.
The problem comes from the state you moved from, they may say you are still a resident of their state. So the real problem is proving to the state you came from that you are no longer a resident. I think living in the new state for over 6 months became an easy way to think you have proven residency.

[retiredguy123]

When you move to FL and declare yourself a Fl resident you are a FL resident as of that day.
The problem comes from the state you moved from, they may say you are still a resident of their state. So the real problem is proving to the state you came from that you are no longer a resident. I think living in the new state for over 6 months became an easy way to think you have proven residency.
You are correct. I think that most State laws are written to say that you are a resident of their state forever, or until you establish residency in another state. So, if you move from a high tax state to another country, like Mexico, you are a legal resident of the state you departed from forever unless you move back to the U.S. and establish residency in another state. They will expect you to continue to pay the state taxes, even though you may not have a residence there or even be eligible to vote in the state you left.

[Altavia]

....

[EdFNJ]

When you move to FL and declare yourself a Fl resident you are a FL resident as of that day.
The problem comes from the state you moved from, they may say you are still a resident of their state. So the real problem is proving to the state you came from that you are no longer a resident. I think living in the new state for over 6 months became an easy way to think you have proven residency.

The state you moved from has no problems if you:


Paid your taxes up until your move in date (and if you didn't you'll get a bill whenever they are normally sent).
Turn in your "old" DL (and your insurance) and obtain a FL one
Register to vote in FL (they automatically notify your previous state).
Turn in your plates and register your vehicle in FL
Buy a home or sign a rental lease here and prove it IF they ask (usually if they see problems with your tax payments).


Why is such a simple and easy process such a big deal. It took us 30 minutes from the time we closed here to complete and never heard word one from NJ again ... good riddance to them. Even our medical/dental/rx insurance from the State of NJ Employee Retirement offices moved with us with just an email notification of the move and copy of our DL's.

[Retiring]

OP, you may want to discuss this with your financial advisor as well as an elder care lawyer, your health insurance provider, etc. There are a LOT of things to consider. We avoided all of this by cutting the cord and moving permanently.

I agree with villagetinker completely. There is so much to your question than what is obvious. Consult couple experts.

[Chatbrat]

When we lived on our boat we used a mail service @ 411 Walnut St, Green Cove Springs , Fl and our specific box # as our legal residence- it worked for our drivers licenses as well--we were able to vote in St. Pete which was our home port

If you have and RV, camper etc.--I was told they use 410 Walnut St--you don't need a permanent piece of property to establish Fl residence.

[graciegirl]

How to Become a Florida Resident, Officially (https://www.thebalance.com/how-to-become-a-florida-resident-officially-3505215)

[collie1228]

It was a no brainer for me, as I had been a long-suffering tax payer from New York most of my life. I found a website that explained the several steps I needed to take, and I completed most of them. I expected some blowback from the NY income tax people when I failed to file the next year, but never heard a peep. The end of the state income tax was a major savings for me, and the total property taxes here were less than the school tax alone in my NY district. In my situation it was a great move.

[Bay Kid]

I might have to change residency. My state is becoming a real embarrassment.

[Debelg]

Another advantage is when you have a 401 K plan that you build when living in a taxable state and now when you are a resident in Florida and start to withdraw from your plan you have no state tax to pay that's a nice chunk of change

[retiredguy123]

Another advantage is when you have a 401 K plan that you build when living in a taxable state and now when you are a resident in Florida and start to withdraw from your plan you have no state tax to pay that's a nice chunk of change
I agree, and it also applies to Traditional IRAs. California used to tax this income until Congress passed a Federal law prohibiting it. I'm surprised that states allow people to defer state income tax on retirement savings, knowing that they may move out of the state when they retire.

[GoPacers]

I might have to change residency. My state is becoming a real embarrassment.

Good luck with that. Seems like all 50 have their issues! :icon_wink:

[manaboutown]

I might have to change residency. My state is becoming a real embarrassment.

Take your pick: Texas, South Dakota or Florida! How the Escapees Mail Forwarding Service Works * Escapees RV Club (https://www.escapees.com/mail-service/how-escapees-mail-forwarding-service-works/)

[Rango]

To claim Florida residency, you must live in Florida a minimum of 6 months and one day...

Not true

[tophcfa]

I think this thread should focus more on how to get out of having to file state income taxes in the high tax state you want to change your domicile from. Establishing domicile in Florida is easy, cutting ties with your previous high tax state is another issue all together. This is especially true if you are not yet 65 and want to maintain your health insurance in the high tax state. If anyone can figure out an answer to that than I would love to hear the solution.

[jcolistra@nycap.rr.com]

NOT ALL TRUE ABOUT TAXES AND AUTO INSURANCE. aS NYS EMPLOYEES ON TIER ONE WE PAID NO INCOME TAXES ON RETIREMENT IN NY. SO TAXES MAKE NO DIFFERENCE FOR ME BUT MY AUTO INSURANCE WAS GREATLY REDUCED. MORE SO IF WE BUNDELED.

[TJ_Woody]

Advantages of Florida residency - vehicle registration fees. A hundred bucks a year, flat fee with no extra cost based on value if the vehicle.

[smsgtdaves]

Is any body familiar with the laws in Pennsylvania about where you claim to live if you own in Florida and Pennsylvania.

[Lyn Wagner]

One thing I learned is that if for any reason you have to go into a nursing home it will be Fl. If your a resident. If your family is in another state your out of luck, unless they can afford frequent visits. If your private pay you can go any place. When I learned that I quickly changed back to the state where my children are, I do have a small condo in the state where my family is. That made my decision easy. Hope that helps you also.

[davem4616]

We reduced our cost of living significantly by selling our home up north and becoming Floridians. I totally agree with the importance of maintaining records that support Florida being your primary residence. Before moving to TV's we had a second home in Ft Lauderdale. We were 'snow-bunnies' for years. In 2008 I moved my business down there from Massachusetts and officially became a Floridian. My wife did not change her primary residence to FL until 2015 because of doctors, insurance and eldercare. Our tax advisor saw an advantage for us to file 'married, filing separately' for 7 years (this may not be the situation for everyone)...so we did that. Every year around August the IRS wanted proof that I was a Floridian. My FL voting records, my car registration, and my name on a FL utility bill were all that was ever required as proof. Yes, car insurance is much higher down here, so shop around for insurance, bundling is optimal. For years I was with State Farm down here. I liked them, however I switched to AAA a couple of years ago and cut my Florida insurance bill in half.

[earlmansberry]

Taxes, weather no more shoveling snow, no vehicle inspection, discount on some cruise tickets, and lots of sunshine

[Simmons233]

Also consider impact of capital gains on your existing residence if you plan to keep it while you change residency. If you have a more expensive home (or one with more capital gain), in your current residency state, and you change residency to FL, your more expensive home becomes your second home and when you sell it down the road, ouch! Big tax bite!

[OhioBuckeye]

i agree with everything except maybe auto insurance.
If you bundle everything you may be ok if your claim and driving record is ok. Try State Farm on 301 office by 44 Nathan Thomas 352-748-5272 Debbie the owner my is a peach
I came from Ohio & only thing I can think of that I didn’t like is Florida’s No Fault Ins. We live in Texas now & they have No Fault Ins. plus there Property Texas are some what higher. But if you’re 62 or 65 your Property Texas never go up. Gas prices are always less than Florida. Right now gas prices are $2.04 a gal. But I still really miss TV!

[mmitchell]

My wife and I moved here from the Chicago area a little over a year ago. We established residency in about 45 minutes, still working for my Illinois employer, no longer paying Illinois income tax------------sweet.

[Silver Streak]

My wife and I moved here from the Chicago area a little over a year ago. We established residency in about 45 minutes, still working for my Illinois employer, no longer paying Illinois income tax------------sweet.

If your employer is in Illinois, don't be surprised if the state still comes after you for income tax. IL may consider that $ as being earned "in Illinois." Happened to my daughter when she left Indiana and earned some $ from Indiana University afterward. States hungry for tax money can be both tricky and persistent in their efforts to get it.

[champion6]

My wife and I moved here from the Chicago area a little over a year ago. We established residency in about 45 minutes, still working for my Illinois employer, no longer paying Illinois income tax------------sweet.If your employer is in Illinois, don't be surprised if the state still comes after you for income tax. IL may consider that $ as being earned "in Illinois." Happened to my daughter when she left Indiana and earned some $ from Indiana University afterward. States hungry for tax money can be both tricky and persistent in their efforts to get it.I agree with the "earned in Illinois" statement.

In 2011 I moved from Illinois and became a Florida resident. In 2016 I inherited my share of an Illinois farm.

I must pay Illinois income tax for my share of the earnings we have for that farm. A brother who lives in Colorado also pays taxes to Illinois for his share of the earnings.

I still say, "Happiness is Illinois in your rear-view mirror." BUT they STILL figure a way to come and get you!

[mjdollard]

New York has been examining some claims of people that say FL is their principal residence. They will review cell phone bills to see where calls originate from and where credit cards were used - if they can show that you were in NY for too many days they say you were a New Yorker and are taxed accordingly.
I am sure that if your income is lower they will skip over you but a high earner has a good chance of a deep audit.
BTW, where in NY?

[Nordhagen]

Also, auto tags are way cheaper than Colorado. $46 no matter what car. My pick up is $73. All my cars were over $400 in CO. They do charge an initial $350-400 to change registration, however

[Bonsai Golfer]

It is true that FL does not care how long you are here. The 6 months + 1 day thing more likely comes in with regard to the state you are moving FROM. For example, WI considers you to be a resident of that state unless you are gone for 6 + 1. When you want to change your state of residence from WI to FL you have to file a form for state income tax purposes that asks a whole bunch of questions including where you are registered to vote, where your cars are registered, etc. and how long you are going to be in your new state. Bottom line is, it is a stroll to get IN to FL but a hurdle to get OUT of WI. Also, look closely at the state income tax implications, for example some states tax any pension that may have been earned in that state even if you are no longer a resident of that state. Other states do not. Each state is different so best you consult your attorney.

[retiredguy123]

It is true that FL does not care how long you are here. The 6 months + 1 day thing more likely comes in with regard to the state you are moving FROM. For example, WI considers you to be a resident of that state unless you are gone for 6 + 1. When you want to change your state of residence from WI to FL you have to file a form for state income tax purposes that asks a whole bunch of questions including where you are registered to vote, where your cars are registered, etc. and how long you are going to be in your new state. Bottom line is, it is a stroll to get IN to FL but a hurdle to get OUT of WI. Also, look closely at the state income tax implications, for example some states tax any pension that may have been earned in that state even if you are no longer a resident of that state. Other states do not. Each state is different so best you consult your attorney.
It is not true that a state can tax a state pension if you are a resident of another state. A Federal law, The Pension Source Act, passed in 1996 says:

"No State may impose an income tax on any retirement income of an individual who is not a resident or domiciliary of such State."

[Bonsai Golfer]

Thanks for clarifying that. A number of posters seemed to say they were being taxed. Perhaps they were referring to "income" earned in that state (such as from a job or business) not pension or retirement income.

[Remlod]

Plase consult with your accountant, (be sure your accountant understands FL Vs. Your state laws)
There are many advantages to permanent residency in FL, however you could get bitten by misjudgments if you do not properly prepare.
Cover your back side.
Also follow your accounting firm's advice to the letter. Little room for error.

[Ss6247]

Can someone explain pros/ cons of changing residency from ny to Florida? We have homes in both and will continue that for at least a few years.
We’re allowed to drink Big Gulps in Florida. :-)

[stujake]

Although I have not read every post on this topic, the ones I know are:
No sales tax on food used for home use (ie: does not include prepared food purchased in a restaurant).
No state income tax. (Illinois had a flat 5% state income tax.)
No state inheritance tax. (Unfortunately, there is still a federal inheritance tax for some people.)
There are limits to raises on property taxes; however, I don't know how they work, since Sumter County just had a huge increase.}
No personal property taxes. (Some states still have personal property taxes.

As an aside, real estate taxes in Highland Park, IL where we previously lived, were more than double what our taxes are here.

[biker1]

There aren’t limits to property tax increases. There are, however, limits to the increase in the assessed value of your home if you are homesteaded. Property taxes can increase via assessed value increases, millage rate increases, or both. For most people, Sumter County property taxes increased because of a modest increase in assessed value, in my case 1.5%, and a 25% increase in the County Tax millage rate.

Although I have not read every post on this topic, the ones I know are:
No sales tax on food used for home use (ie: does not include prepared food purchased in a restaurant).
No state income tax. (Illinois had a flat 5% state income tax.)
No state inheritance tax. (Unfortunately, there is still a federal inheritance tax for some people.)
There are limits to raises on property taxes; however, I don't know how they work, since Sumter County just had a huge increase.}
No personal property taxes. (Some states still have personal property taxes.

As an aside, real estate taxes in Highland Park, IL where we previously lived, were more than double what our taxes are here.

[Dianalea]

😂😂😂👍