Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Each state has its own definition of who they consider to be a resident and it is possible to end up resident of more than one state. We were for a while, one state because we owned a house there which was that state's criteria, and the other state because we voted in that one. Basically, you have to check the law in any state you live in, own property in, work in, or vote in. It can get complicated if you split time between 2 states. Trump can say whatever he wants about his residency but NY no doubt is going to scrutinize whether he meets their definition of resident for tax purposes.
One needs to be present in Florida at least 183 non- consecutive days a year to qualify as a full time resident. Being present does not mean overnight.
Obama paid Illinois state income tax while in office. No way was he present in Illinois 183 days. So maybe there is a default to the primary private residence for POTUS.
I'd think he might save a ton on the move. New York (and NYC specifically) are financially draining no matter the income bracket. Taxes keep comin' at ya there.
Not really news, since NY loses thousands annually to winter-friendly states.
I do not know, but perhaps someone does: is it more favorable for a rich man (whom owns virtually all of the assets) to divorce in New York or Florida? Both are 'equitable' states, as opposed to 'community property' states, but other than that, I wonder if Florida laws would be more favorable for Mr. Trump (regardless of whom files).
I do not know, but perhaps someone does: is it more favorable for a rich man (whom owns virtually all of the assets) to divorce in New York or Florida? Both are 'equitable' states, as opposed to 'community property' states, but other than that, I wonder if Florida laws would be more favorable for Mr. Trump (regardless of whom files).
My guess is Trump has an ironclad pre-nup and an NDA with 'Melanie', so on the face of it this shouldn't be a problem. But you may be on to something, if local Florida courts have a history of favoring the enforcement of such agreements.
I do not know, but perhaps someone does: is it more favorable for a rich man (whom owns virtually all of the assets) to divorce in New York or Florida? Both are 'equitable' states, as opposed to 'community property' states, but other than that, I wonder if Florida laws would be more favorable for Mr. Trump (regardless of whom files).
^^^^^ What difference it would make....might be unknown *shrug*, but the link in my OP included the point that Melania did the same (changed her domicile from NY to FL).
And one state, South Dakota, allows domicile there with the 'residency requirement', IIRC, being spending one night there over a lifetime. CD member Stealth Rabbit has posted about that.
If you are based in say Wisconson, it will be looking for you to pay 7.65% income tax unless you can prove you were physically present in another state at least 183 days.
Trump is a NY in heart and soul and for him to change his domicile, says a lot (positive) and I can't blame him one bit.
Sadly the low life mayor had to make a nasty remark, but in the end the mayor and Governor see a Billionaire walk out of their State with all the money and they will be the biggest losers.
Many of Trumps friends are leaving too and so are many people, I know!
I'm surprised it took Trump this long. The Liberals of NYC have it in for wealthy people with their tax grabs and it will only get worse plus they HATE Trump. They used to love him when he was buying up downtrodden properties and rebuilding them but now that he is President he is hated. The guy hasn't changed, only his title.
Oh well. When Trump retires in 2024 he can play golf at his resort year round.
No way will Trump, upon retirement, play golf in Florida, year round. Trump Org owns many properties. NJ has been his primary destination for summer golfing, during late spring- early autumn.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
