Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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Moving from NY to TV
Hi, I read all about what to do to become a Florida resident. But I have not read anything about what paperworks are needed in NY state. If you have moved Domicile from NY to FL, could you share that info? If you did, did you get any notification from the NY state? How long did it take to complete the process of becoming FL resident?
Thanks in advance. |
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Identifying as Mr. Helpful |
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>When you file your last State return, some write "Final Return" across the top. >Unless you are a significant tax payer, odds of audit is extremely small. >Important to track days out of NY
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I despise NY. My NJ house is 3 miles from the border and I refuse to go there unless absolutely there is no other way. All I can say is document everything because those money grasping jackals are going to make you prove everything. |
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Make sure you change your health insurance to Florida, or NY (or any other state) will forever hound you for taxes. You are considered a resident of the state where you get your health insurance. I guess if you are 65+ and are on Medicare that is a different story since it is a federal program. Our desire to have access to our doctors in Massachusetts has kept us from being able to change our primary state of residency to Florida. Before Obamacare it used to be that you just had spend 183+ days per year in a state to claim it as your primary residency.
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FYI. With my companies, all health insurance was out of Iowa and our employees were residents of other states including: Georgia, Minnesota, Missouri, Ohio, Texas, North Carolina & Illinois. We are Florida residents and have health insurance from out of state.
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I would also close any bank accounts located in NYS.
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kathy |
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BTW, did anyone ever had to go thru with NYS audit? Did you need lawyer/CPA if you did? I am just preparing for the worst possible situation.. |
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine |
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Did you have professional help or did it all by yourself?
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I did it all by myself. I was a freshly minted NY lawyer and had literally just passed the NY bar. Although I was an intellectual property attorney my best grade in law school was in a tax class. It did take some appeals. I had some case law on my side which I cited to them. The head guy finally said OK, you win except for a very minor ($17.72) matter and invited me into his office for a cup of coffee.
If you own rental property you probably have a capable CPA who will know how to handle your change of domicile/residence, file nonresident tax returns and so on. You can probably find a lot written about how to insure your change of residency is solid as well as how to maintain it as you may be visiting NY to manage your rental properties and visit friends and family. A lot is written on this subject. You are not the first person from NY or other high tax state moving to FL or other state having low or no personal income tax.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine Last edited by manaboutown; 11-24-2020 at 02:19 PM. |
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