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the few that I mentioned on another thread really do live here. I'm sure there are plenty more that I don't know about. And why not? IMO we have the best quality of life.
"First of all if they are that wealthy they would have to pay the dividends and interest tax. "
they would have to pay div. and int. tax no matter where they lived. No income tax is a real savings.
But you are missing the point about the income tax. If they earn their $$ in New York or California they have to pay income tax on that $$ in NY or CA. How is living in NH saving them $$ on income tax?
I don't know about NH but in many states you have to actually be in legal residence a certain number of months per year to claim residency.
I do think that in many circumstances high property taxes and capital gains/dividend taxes nullify the income tax savings, at least for retirees or for small business owners like us.
Also, I bet many of the wealthier "residents" are actually second home owners. I don't know how you could earn enough money locally to buy one of the big, beautiful houses in Rye & Newcastle or on the lakes in the Lakes/White Mountain Region - let alone pay for the prop taxes.
you're assuming they are working all the time. They only have to pay income tax on income earned in other states if that state has an income tax. If I recollect, there are 6 states without income taxes. When was the last time Britney worked?
and you are only referring to movie or tv stars - the majority of billionaires in this state are not.
and dare to dream - I said Ashland, but I meant Andover...oops. Got Ashland on the brain.
Don't forget the owners of sports teams such as the Fishercats, the former owner of the Loudon International Speedway and various other lucrative businesses, including ski resorts.
you're assuming they are working all the time. They only have to pay income tax on income earned in other states if that state has an income tax. If I recollect, there are 6 states without income taxes. When was the last time Britney worked?
and you are only referring to movie or tv stars - the majority of billionaires in this state are not.
and dare to dream - I said Ashland, but I meant Andover...oops. Got Ashland on the brain.
Britney is coming out with a new album and a new video has been released so she has worked recently. She shot a video recently-probably either in CA or NY where there is a high income tax-so I do not see how claiming a residence in NH would benefit her. And no I am not a fan-heard it on the radio.
Johnny Depp-he was in your post-is working all the time and makes big bucks-I don't know how he would be benefited by a lack of income tax in NH. I imagine he pays a huge income tax in France where he lives and then in CA or any state with an income tax if he shoots movies in any of those studios.
What I am saying does not apply to just actors or athletes-if you work in another state with an income tax and you claim NH as your residence-you are not benefitting from lack of income tax in NH.
My first thought would be that just because someone is wealthy does not necessarily mean they are also famous.....also, if there are "famous" people living in the state, just going from what I've learned about the state since moving here, I would suspect no one would make a big deal out of it.
I hate to keep bringing up NY, but the area where we lived had Natalie Merchant, Uma Thurman, Keanu Reeves (sp), Mary Tyler Moore, Levon Helms (sp), Bob Dylan and quite a few others with residences in the area - nobody made a big fuss over them - they were people just like the rest of us, who happened to have homes in the area. It wasn't publicised, but you'd run into them in the area stores or when out and about.
It's also been my experience that those (non-famous people) with "class" and money don't "flaunt" it - you're more likely to find out about it by accident. Lots of people have big fancy houses, fancy clothes/accessories/cars but that doesn't necessarily mean they are wealthy - they may just be in debt up to their eyeballs and trying to impress someone
Hehehe - Nope, just knew that type of person in NY - many of them....and a couple are relatives....one was my ex-husband I remember him coming home one day with a brand new Mercedes - the idiot had leased one for $400/month without telling me what he was doing - he sold insurance and his "excuse" was - "Well, I *have* to look successful!"....one of the many reasons I eventually left him!
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