Residency when full timing: Florida vs Texas
My wife and I will begin our FT chapter in a couple months. Since we are currently residents of a state with income tax we're looking to be come residents of one that doesn't. We have it narrowed do...
Forum Discussion
tatest wrote:
But I think you can put too much emphasis on "no income tax" when there are other cost issues, for both real residents and absentee residents. State income tax is important only to the extent that you have a high taxable income in the state, and the rate is high. In some states with a state income tax tied to the Federal income tax, 30 to 50% of the residents pay no income tax at all.
yep, when I was looking at buying a house in Texas I calculated that the increased property tax, MUD tax, etc. on a $250,000 house would about even out with my savings of no income tax. obviously if you owned little property in Tx no income tax would win out.
bumpy
