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Old 05-19-2009, 03:02 PM
 
11 posts, read 29,264 times
Reputation: 21

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I was born and raised here in California and I love it. I love everything, except the rampant liberalism and high punitive taxes.

I make most of my money online these days, and within a couple of years 100% of my income should be coming from online ventures. So physically there won't be any need to be officially living in California.

What I plan on doing is incorporating in Nevada and establishing an official business/personal address there (the same place), registering my cars in Nevada, and getting a Nevada drivers license.

But I would live in California 99.9% of the time.

The tax savings (10% state income tax plus lots of other liberal B.S.) will be substantial.

I plan on hiring a lawyer to take care of the nuts and bolts, but I was wondering if anybody has experience with this.

Thank you.
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Old 05-19-2009, 03:34 PM
 
Location: Oakland, CA
1,554 posts, read 3,602,920 times
Reputation: 649
The governor is a republican.
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Old 05-19-2009, 03:48 PM
 
1,078 posts, read 2,570,260 times
Reputation: 628
Quote:
Originally Posted by City Boy View Post
The governor is a republican.
He can call himself anything he wants, but his policies are middle of the road democrat.
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Old 05-19-2009, 03:51 PM
 
267 posts, read 601,217 times
Reputation: 120
Quote:
Originally Posted by Rpche View Post
I was born and raised here in California and I love it. I love everything, except the rampant liberalism and high punitive taxes.

I make most of my money online these days, and within a couple of years 100% of my income should be coming from online ventures. So physically there won't be any need to be officially living in California.

What I plan on doing is incorporating in Nevada and establishing an official business/personal address there (the same place), registering my cars in Nevada, and getting a Nevada drivers license.

But I would live in California 99.9% of the time.

The tax savings (10% state income tax plus lots of other liberal B.S.) will be substantial.

I plan on hiring a lawyer to take care of the nuts and bolts, but I was wondering if anybody has experience with this.

Thank you.
That is a good concept you have there if you can pull it off. I would be interested to know if you can live in one state and pay taxes (Lower) to another.

I have friends that were life-long California residents who moved to Las Vegas for the tax breaks. However, they spend maybe 40% of their time there to establish residence.

A family member moved out of California and they are constantly harassed every year to pay taxes on their investment income even though they have not lived there in 10 years.

Government will surely not leave you alone if they can get money out of you. In fact Congress is working on ways to tax the Net. They hate seeing an important part of life going untaxed.

I am sure they will find ways...........Government abhors a vacuum!

Good Luck!!
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Old 05-19-2009, 03:52 PM
 
267 posts, read 601,217 times
Reputation: 120
Quote:
Originally Posted by City Boy View Post
The governor is a republican.
I am not sure what this has to do with the thread???
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Old 05-19-2009, 04:04 PM
 
Location: los angeles
5,031 posts, read 8,194,191 times
Reputation: 1359
Move to Texas; you will be much happier in the South.
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Old 05-19-2009, 04:35 PM
 
Location: Oxygen Ln. AZ
8,626 posts, read 10,896,817 times
Reputation: 4780
Quote:
Originally Posted by City Boy View Post
The governor is a republican.
In name only. He was unqualified to be Gov. His wify poo is a staunch Kennedy democrat. Do you honestly think he could survive as a member of that clan without being a wolf in sheeps clothing?
Anyhoo, to the op, won't you still be paying the exhorbinant income taxes in CA? Maybe your attorney knows best. TX is on our list as possible final retirement spots. Good luck in your hunt
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Old 05-19-2009, 04:52 PM
 
11 posts, read 29,264 times
Reputation: 21
Quote:
Originally Posted by Den Mathias View Post
That is a good concept you have there if you can pull it off. I would be interested to know if you can live in one state and pay taxes (Lower) to another.

I have friends that were life-long California residents who moved to Las Vegas for the tax breaks. However, they spend maybe 40% of their time there to establish residence.

A family member moved out of California and they are constantly harassed every year to pay taxes on their investment income even though they have not lived there in 10 years.

Government will surely not leave you alone if they can get money out of you. In fact Congress is working on ways to tax the Net. They hate seeing an important part of life going untaxed.

I am sure they will find ways...........Government abhors a vacuum!

Good Luck!!
Well, I've done some research since posting here. It looks like the trick is to establish residency in Nevada. Renting a place there, paying utilities, registering to vote, registering my cars, and getting a Nevada drivers license will likely do the trick.

But I'll be spending most of my time in CA, and in the event of an audit I wonder if it will come up that I'm also renting a place in California and paying California utilities?
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Old 05-19-2009, 06:07 PM
 
Location: Carlsbad
331 posts, read 705,466 times
Reputation: 265
This won't pass the smell test. The govt. won't allow you to just set up shop in Nevada, but still live and work in CA, but not pay CA taxes. You pay taxes based on your state of residency, which is where you spend 51% of your time. Even if you list NV as your residence and driver's license, but still spend the bulk of your time in CA, the govt will say you till live in CA, and must pay CA taxes.
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Old 05-19-2009, 06:22 PM
 
340 posts, read 429,596 times
Reputation: 142
Quote:
Originally Posted by City Boy View Post
The governor is a republican.
not really
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