[kbace6]

I was wondering what the requirements/issues are to designate Florida as my home State when I retire, but still keep my home up North. The main reason being is that we will be traveling a lot during the summer and are still interested in keeping our home up North, but not paying State income taxes there.

Income Tax Rates By State 2013 - Tax-Rates.org

With Florida being a no State income tax State, why would I keep paying State income taxes when we will be at our home up North less that half the time?

Have others here done the same thing? How did it work out for you? Or is this sort of thing prohibited in some way? Does it depend on where you have your SS $$$ sent to?

Thank you in advance for all the informed responses I know I wil get here.

[MikeV]

You have to get a Florida Drivers License, register your car in Florida and register to vote. We did it all in one afternoon. We are from NY where the State Income Taxes are high.

[Susan G]

Originally Posted by MikeV

You have to get a Florida Drivers License, register your car in Florida and register to vote. We did it all in one afternoon. We are from NY where the State Income Taxes are high.

And I would assume you should apply for Homestead Exemption designating your Florida property as your primary residence. You must complete the above steps before applying for Homestead Exemption though.

Interesting question on SS check...if it is going to another bank outside the state. Anyone know about that rule??

[Quixote]

Originally Posted by MikeV

You have to get a Florida Drivers License, register your car in Florida and register to vote. We did it all in one afternoon. We are from NY where the State Income Taxes are high.

This is what I did too, and yes, it went smoothly and quickly. Along with the driver's license and car registration changes, you can register to vote in FL, also a simple form in an office across the hall from Motor Vehicle in the govt building on 466A. I was told that FL is happy to welcome whom they see as old folks with disposable income, but sometimes our "former" home state is reluctant to release us, one reason being what you said about state income taxes, the other being potential estate taxes.

Originally Posted by Susan G

And I would assume you should apply for Homestead Exemption designating your Florida property as your primary residence. You must complete the above steps before applying for Homestead Exemption though.

Interesting question on SS check...if it is going to another bank outside the state. Anyone know about that rule??

Yes, EVERYTHING has to be changed to FL for you to be considered a FL resident. This includes bank accounts (and with it, the direct deposit of SS checks or other retirement income). Don't forget your safe deposit box, if you have one; that's one that the "departing" state will look for and point to.

The other advantage, after you apply for and receive the homestead exemption as explained by Susan G, which means you are declaring that your legal, permanent residence is in FL and you simply maintain a summer home, so to speak, in NY, is that with each year of residency in FL that you accrue, your property tax status changes for the better (for your pocketbook, that is, not for FL). I did all this immediately on buying here in TV, and I urge newcomers to consider doing the same, unless there are complicating factors about which one should discuss with one's attorney.

[JB in TV]

Originally Posted by Quixote

... with each year of residency in FL that you accrue, your property tax status changes for the better (for your pocketbook, that is, not for FL).....

Please explain this in more detail...

Thanks!

[Villageswimmer]

Originally Posted by MikeV

You have to get a Florida Drivers License, register your car in Florida and register to vote. We did it all in one afternoon. We are from NY where the State Income Taxes are high.

MIKE, Thanks for the info. Where does one go to do these 3 things? We live in Sumter.

Also, if we leave one car up North, can we still register it in FL?

Do u recall what documentation is needed?

[Golfingnut]

You can open a home in every state, but you can only have one primary residence

[784caroline]

You can only have one primary residence for tax purposes. It will all be based not only on the facts as you present them but moreso your intent in doing so. Just registering your car and having bills in Fl will not persuade your losing state that your "intent" was to make florida your permanent residence and you are not doing what you are doing simply to avoid state taxes.
I have know people that title one home in Fl to the husband (most pension income), while the northern home is retitled in the spouses name. Where will you file your federal taxes from? HOw many days a year do you plan to be living where...and can you substantiate it. Again it will not be Florida asking these questions but your losing state.

[kbace6]

Originally Posted by 784caroline

You can only have one primary residence for tax purposes. It will all be based not only on the facts as you present them but moreso your intent in doing so. Just registering your car and having bills in Fl will not persuade your losing state that your "intent" was to make florida your permanent residence and you are not doing what you are doing simply to avoid state taxes.
I have know people that title one home in Fl to the husband (most pension income), while the northern home is retitled in the spouses name. Where will you file your federal taxes from? HOw many days a year do you plan to be living where...and can you substantiate it. Again it will not be Florida asking these questions but your losing state.

This is all very interesting stuff. (all the posts thus far)

Has anyone gotten any indigestion from their former home State in a scenario as described above? Meaning did their former home State give them a hard time when it comes to State income taxes? How did you resolve the situation?

Thanks for all the great responses.

[BobnBev]

Originally Posted by kbace6

This is all very interesting stuff. (all the posts thus far)

Has anyone gotten any indigestion from their former home State in a scenario as described above? Meaning did their former home State give them a hard time when it comes to State income taxes? How did you resolve the situation?

Thanks for all the great responses.

My CT pension check is direct deposited to my bank in FL. A net gain for about
$2200 due to not paying CT income tax. No problems. The only tax I pay in CT is the property tax on my home there.

[Advogado]

Keep in mind that many states will consider you as a resident if you spend 183 days or more, in any year, there--despite your FL driver's license, voter registration, car registration, etc. I understand from friends that New York is particularly diligent in investigating. You will want to check the laws of the state of your present northern residence in that regard and, if necessary, make sure you count your days there.