Claim Florida As Your Legal Residence and Save a Bundle On Taxes
If you live in New York or another state where you pay a state income tax, a move to Florida or purchasing a second home in Florida could save you a bundle in taxes.
Although there is no state income tax in Florida in order to take advantage of this either you will have to make Florida your only residence or if you have residency in another state, you will have to prove to that state that you are living in Florida for 183 days or more out the year. It’s not necessarily easy to make the transition but it will pay off in the long run.
Here are few things you can do to prove your residency in Florida:
- Keep a log of the days spent in Florida
- File your receipts showing dates of purchases
- Register to Vote
- Get a Florida Driver’s License and Florida License Plates
- Discontinue state resident benefits you may have in your previous state (i.e. don’t try to use your previous state hunting or fishing license and get one in Florida)
- Open a local bank account
- File a Declaration of Domicile with your local county court
- Take advantage of Florida’s Homestead Tax Exemption
Once you make the plunge to become a Florida resident you will see the difference in your bottom line and begin exploring a brand new life in the sunshine state.
