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Old 07-11-2007, 04:01 PM
 
Location: Delray Beach
67 posts, read 275,217 times
Reputation: 42

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Is it true that there is no income tax to state residents?

So if I understand this correctly, a person making 48,000 annually (paid monthly), will make 4,000 per month?

Are you considered a state resident once you begin working and/or living in Florida?
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Old 07-11-2007, 04:05 PM
 
8,377 posts, read 30,912,353 times
Reputation: 2423
Quote:
Originally Posted by philly76er View Post
Is it true that there is no income tax to state residents?

So if I understand this correctly, a person making 48,000 annually (paid monthly), will make 4,000 per month?

Are you considered a state resident once you begin working and/or living in Florida?
No income tax. . The Florida constitution prohibits it.
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Old 07-11-2007, 04:12 PM
 
Location: Delray Beach
67 posts, read 275,217 times
Reputation: 42
Quote:
Originally Posted by fort lauderdale View Post
No income tax. . The Florida constitution prohibits it.

wow, that is amazing. after taxes and health insurance, I currently lose close to 30% of my gross income. I like Florida already!!
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Old 07-11-2007, 04:15 PM
 
8,377 posts, read 30,912,353 times
Reputation: 2423
Quote:
Originally Posted by philly76er View Post
wow, that is amazing. after taxes and health insurance, I currently lose close to 30% of my gross income. I like Florida already!!
I would honestly recommend posting this in the Florida forum, its a lot busier and pertains more to Florida than Miami. I am not sure what the property taxes/sales tax is like in PA, but if you own a home here, its really all a loophole.
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Old 07-11-2007, 04:34 PM
 
Location: Delray Beach
67 posts, read 275,217 times
Reputation: 42
good idea, will do
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Old 07-11-2007, 06:58 PM
 
8,377 posts, read 30,912,353 times
Reputation: 2423
Oh my god, I thought you meant STATE income tax after reading the other forum, hahahahah!!!!!!!!!! Of course you have to pay federal taxes!!!!!!!
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Old 07-11-2007, 07:31 PM
 
Location: Heartland Florida
9,324 posts, read 26,757,983 times
Reputation: 5038
We have an income tax, it's called property tax. 25% of my income currently goes to it.
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Old 07-12-2007, 02:00 PM
 
Location: Downtown Raleigh, NC
2,086 posts, read 7,646,035 times
Reputation: 1308
Quote:
Originally Posted by philly76er View Post
Is it true that there is no income tax to state residents?

So if I understand this correctly, a person making 48,000 annually (paid monthly), will make 4,000 per month?

Are you considered a state resident once you begin working and/or living in Florida?
It is true that there is no state income tax in FL, but that doesn't mean you'll be taking home your salary divided by 12. Don't forget, you still have to pay Uncle Sam - Federal Income Tax is charged in all 50 states.

And the state has to make up revenue for no income tax in other places, such as sales tax and property tax. It's all relative.
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Old 07-13-2007, 05:49 PM
 
448 posts, read 1,856,158 times
Reputation: 190
The county's also take in an extra 1 percent or 2, depending on what county you live in. Add to that the huge property taxes and it feels like your entire check goes to pay taxes.
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