New Hampshire domicile / residency? (No S&B)
We've run the numbers, and the savings for us to be NH residents is on the order of $10k/year. We also have a lot of family in the northeast so it would be quite a bit more convenient. To be cle...
Forum Discussion
jrp wrote:
NH like many other states, requires you to show proof of your physical residence; like rent receipts, mortgage docs, property tax payments, utility bills, etc. Other than Mail Boxes etc & UPS Stores, which are everywhere, I don't know of any major mail forwarding service in NH that supports establishing domicile.
NH also taxes all dividend & interest income, so that's usually a deal breaker for retirees or anyone living off an investment nest egg.
But there is always a way to get around the issues if you're really fond of NH or any other specific state. Folks choose SD, TX, FL because those states make it easy, and if you have no pre-determined preference for any state, why not choose the easy path.
I'm curious how you think NH will save you $10,000, or how you fudged the numbers to make it look like NH would save 10k since that's where you want to be.
Jim, I'm perplexed as to why you'd think I would fudge the numbers. What's my incentive to do so? Picking a state that's not winter-friendly certainly isn't a good decision if it doesn't legitimately have a reason.
That said, New Hampshire saves us:
$5000-8000 in sales tax, versus other states
$1000/yr in truck/RV insurance
$3000-4000/yr in health insurance
It's much more expensive in vehicle registration, but for the vehicles we have, it only amounts to about a $1500 loss to the other states.
And yes, we have family there, in VT, NY, and VA, so it's a good hub for us. But again, winter access is very difficult so that's a huge disincentive to fight for NH as home base.
Ken
