Haven’t changed states residency for FT purposes but it’s the same regardless. The govt isn’t “watching” you if that makes sense.
While obviously plenty of people establish residency with a PO Box in the friendly states to doo that, you can too. Use your googler to figure it out.
However if you have someone you can use their physical address in FL that you trust and will be there for (however long) then it’s a slam dunk easy. Don’t need to be family either. Change your address to that for some bills and bank accounts etc, go get a FL DL, pretend you “live there” for 183 days a year if anyone asks and then go buy your RV and hit the road.
Your personal situation is no one’s business. And the risk of getting caught up in a false state residency is very slim and not really applicable except if you do something physically in violation of a residency requirement. Like claiming false residency for in state hunting or something.
look at it this way. You could feasibly move in with a your relatives in FL, rent free, no lease and no one, including the State, can claim you’re not a resident for mooching off of family.
Also know that residency and tax home can be different. In this case you want to get out of Taxolina so start claiming your tax home as FL as well on your tax returns. Makes no difference if you own real property in Carolina.
People own multiple properties in multiple states and have to pick one. So you pick one.
It only gets overcomplicated for people who haven’t experienced moving state to state.
Appreciate it Grit. Makes perfect sense. I assume I have to relinquish my NC license in order to get the FL. Not a big deal, just thinking that's how it works. Then it's a matter of changing states at work for payroll, bills etc. I will have other vehicles titled in NC, assuming again that I could just register them in FL once I get my DL.
Yes exactlyway2roll. And it’s that easy especially if you have an active physical address to claim.
Look at it like this. Pretend you’re just moving and get to “live for free” with family. You would do exactly what you’re describing.
Now regarding the RV purchase. You have half the sales tax in NC assuming you’re buying new or from a dealer. If considering private sale, figure that out for both states. May have no sales tax. BUT doesn’t NC get you on annual personal property tax? That how they make up the low sales tax, no? If so, buy in NC. Then “move” right away, so you don’t get hit with it the following year or whenever it’s assessed.
Also don’t worry about still inhabiting your NC home. If you switch all the bills to the FL address it’s now just a second home scenario.
And based on your posts you (and most of us) are not the target of the IRS and States for tax evasion. Lol.
Although fckin Colorado came after me this year. You could tell It was literally a pre-programmed fishing expedition targeting out of state landowners who sell their property in CO right before the statute of limitations expires. CO tries to get you on both ends if you’re an out of stater. When you sell you pay a set % of tax to the state just to get the deed processed. Then they hope you made more $ on it than what they already collected for. But by their state laws and allowable deductions to figure cost basis we got back most of their initial tax. 3 years later they send a random request requesting “more information” or they will go back on what they allowed on your tax return 3 years ago. Fortunately my cost basis calculations were legit….
You won’t have that issue when you sell your house as it was your primary residence. Although make sure now what the timeline is that you can have as NOT a primary residence and rules surrounding secondary residence and the capital gains exemption so you aren’t at risk of losing the cap gains exemption….whenever.
I say that because Im getting phucked on that now as well. Selling my house in WA that was co owned with my wife. But now my cap gains exemption is half since I already got phucked once by her passing away at a young age, both personally and) of course and now financially twice. Great expense for years due to her inability to work and health problems while raising a family and the cost and extra expense of care. And now because I’m getting taxed more while never getting the married exemption benefits on a large taxation item.
And the annual tax deduction is **bleep** as well because we was financially responsible and don’t have a large mortgage.
In hindsight I should have “sold” the house to our son (who was 20 years old at the time). Could have juggled the $ that way. Took the cap gains exemption as married and also protected him from having a cap gains tax now when “he” sold it. Not me.
The sales tax and personal property tax is something I need to figure out. You are correct in that NC has a PP tax. It's usually assessed the following year. But in Fl I can't "move" until 6 mos has passed since owning the RV, otherwise they will charge me a tax as well. So I should be able to buy it as a NC resident and pay 3% sales tax. I can get my FL DL as soon as I want but I need to register the RV in FL after owning 6 mos to avoid paying another sales tax in FL but should be in time to avoid the PP tax in NC - or at least 100% of it. When I turn my tags in for NC, they will probably have some assessed amount of the time it's registered in NC. So I'll still pay something. But I will avoid the largest hit which is the additional 3% from FL on sales tax, or the full 6% if I move it before 6 mos (which would be in addition to the 3% I paid in NC). Hopefully that made sense. I have plenty of time to figure it out. Right now we are probably a year away from this, but I feel I need to start this process or at least plan it all out soon. One of the biggest lifts we'll see - aside from no PP tax annually, is no state income tax. that's going to be a nice raise.
