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From: Rick H Kennerly (no email)
Date: Sat Jan 11 2003 - 14:56:16 EST
We've walked this trail many times on this list. There is some excellent
research in the archives, including links to a chart that breaks out the
states by types of tax and the rates.
One of the continuing themes is "if I can just get a xxx (pick a state)
drivers license, then I'll be home free." but it ain't that easy. Florida
is nearly unique in having a domicile form. Most states don't.
The real boogieman is the state you're leaving. If that taxing entity can
prove that you're domiciling in another state merely to avoid their taxes,
then they'll come after you and probably succeed. Clean breaks are the
best. No house, no car, no business, no banking or brokerage accounts left
behind and no checks coming to you from the state (like a state employee
retirement plan).
On the other end, your new state, a DL and a mailing address is usually
good enough.
But you have to watch for states that have no or low income tax but heavily
tax income from stock and retirement funds (wasn't that South Carolina?).
Of the coastal states, I think the consensus was Texas, Florida, and North
Carolina were the states of choice. But, to repeat the really important
stuff, it's the tax man in the state you're trying to escape that is going
to be your big problem.
Rick NH2F
Westsail 32 Xapic
Cabo San Juan, Puerto Rico
www.mouseherder.com/xapic
www.westsail.org
Sail like a Kiwi
Anchor like a Canadian
Live like a Texan
.:.
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