Counting down and domicile questions
We have a solid contract on our house, and will be full time on July 24! (Yeah!!!) I have some serious wondering about this whole domicile question? I know that the most popular states are Te...
Forum Discussion
I'll just add what "I" did not take into consideration when making my decisions when I went full time and how it affected me when I decided to pull off the road.
If you leave your vehicles registered in Illinois you will have to travel back there each time for emissions testing to renew your plates.
So pick a state that does NOT have emissions testing.
Pick a state that does not have state income tax if that is an attracting bonus for your financial situation and/or if you are near retirement. Owning a company in your home state might alter what is the best decision for you though.
If you choose Florida keep in mind there is an impact fee the first time you register your vehicle there count on around $500 per vehicle.
And yes some of those states will allow a mailing company address BUT when that address goes on your drivers license it can cause additional problems down the road with your insurance and other institutions that do NOT allow mailing address' and require your DL for proof of address. An oxymoron at it's best.
Do your homework and read read about all the different options before you jump ship! :W
Here's a few for you to peruse over! :B
http://taxes.about.com/od/statetaxes/a/Best-States-for-Retirees.htm
http://taxes.about.com/od/statetaxes/a/tax-free-states.htm
http://retirementliving.com/RLtaxes.html
If you leave your vehicles registered in Illinois you will have to travel back there each time for emissions testing to renew your plates.
So pick a state that does NOT have emissions testing.
Pick a state that does not have state income tax if that is an attracting bonus for your financial situation and/or if you are near retirement. Owning a company in your home state might alter what is the best decision for you though.
If you choose Florida keep in mind there is an impact fee the first time you register your vehicle there count on around $500 per vehicle.
And yes some of those states will allow a mailing company address BUT when that address goes on your drivers license it can cause additional problems down the road with your insurance and other institutions that do NOT allow mailing address' and require your DL for proof of address. An oxymoron at it's best.
Do your homework and read read about all the different options before you jump ship! :W
Here's a few for you to peruse over! :B
http://taxes.about.com/od/statetaxes/a/Best-States-for-Retirees.htm
http://taxes.about.com/od/statetaxes/a/tax-free-states.htm
http://retirementliving.com/RLtaxes.html
