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The Romneys sold the family home in Belmont in 2010 and bought a condo in town which they sold in 2014. They are no longer residents of Massachusetts. The other 3 homes above are correct but he has a 4th - a farmhouse in Holladay, UT. Both the UT houses are held under LLC's.
I'm wondering which house he claims as his main residence for income tax purposes? Most likely Utah, which has a maximum income tax rate of 5% on all classes of income whereas in CA it's 13.3% and in NH, there is a flat 5% tax on interest and dividends but no tax on cap gains, trust and partnership income.
I'm wondering which house he claims as his main residence for income tax purposes? Most likely Utah, which has a maximum income tax rate of 5% on all classes of income whereas in CA it's 13.3% and in NH, there is a flat 5% tax on interest and dividends but no tax on cap gains, trust and partnership income.
I was wondering the same thing. I'm betting it NH...
Since what Income he has now, is from speaking fees, Board Directors ?? he might be on.
His personal Stocks/Bonds I'm willing to bet are in some sort of partnership/Trust.
I'm wondering which house he claims as his main residence for income tax purposes? Most likely Utah, which has a maximum income tax rate of 5% on all classes of income whereas in CA it's 13.3% and in NH, there is a flat 5% tax on interest and dividends but no tax on cap gains, trust and partnership income.
My understanding from articles that I have found note that he is registered to vote in UT so I presume that is his domicile.
I always thought it was funny that in the 2012 election, Romney lost four of his five home states: New Hampshire, Massachusetts, Michigan and California. He killed in Utah, though!
Mitt doesn't even have one of the larger houses on the lake. A Nascar track owner easily has the largest (63,000 sq ft on 16 acres and it is for sale for 25mm now that he sold the nearby track)
Mitt doesn't even have one of the larger houses on the lake. A Nascar track owner easily has the largest (63,000 sq ft on 16 acres and it is for sale for 25mm now that he sold the nearby track)
Yikes! Did you see the "Payment Options" section of that URL? An estimated $46,440 in taxes PER MONTH!
Must be nice! :-)
It's an estimate. The properties are assessed at about $23 million. At the $14.27 tax rate, it's about $328K a year so only $27K a month. If one can afford the $26 million price tag, they can handle the taxes.
I have to be honest. That place only has a grass heliport pad! Disgusting! Trust me. I only set my helicopter down on the classiest, most luxurious, gold plated heliport pads. Believe me. It's true. Grass? Sad!
Also its not a Charted one on the FAA charts, But there is no FAA requirement they you takeoff or land at a charted airport/Heli X.
(Many Insurance Companies do require it)
TIL. Thanks, man.
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