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I have lived and worked in NYC and also lived in FL and have a house there. I agree both are filled with crazies but is more concentrated in NYC. But if you go about 100 miles from NYC the craziness fades fast.
Not talking about political craziness here, just pure simple craziness.
People with millions and billions make decisions based on finance and it is never personal.
One hedge fund manager lives in FL and flies to Connecticut once a week and lives there for just a couple of days while overseeing his office. He keeps perfects logs of his trips to make sure that he is out of Connecticut for more than 181 days and does not have to pay the state income tax and other taxes. His FL income is state tax free.
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.
They act as if NY will miss Trump’s millions. They’re obviously not taking into account that NY creates so many millionaires annually that his change of residency hardly makes a dent if any dent at all. And people who were already multimillionaires got a helluva lot richer. Not to mention NY multimillionaires that became billionaires this year. The place is made of money.
Trump’s lawyers have likely kept him from paying all that much in state taxes anyway.
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.
While living in Texas, I bought a new car in Florida, and I paid cash.
Texas has a 6.25 base sales tax rate, and local jurisdictions can charge up to an additional 2%. My area charges the additional 2%.
The dealership charged me 8.25% sales tax on the car.
When I went to register the car in Texas, the clerk told me that the dealership had overcharged me. That the sales tax for vehicles is restricted to the 6.25% minimum statewide (no local add ons) in Texas. This makes sense, as allowing the local add on would favor dealerships in areas that don't have any local add on and might prompt some people to try to obfuscate their personal location to save 2%.
In the mail, literally the night of the same day the clerk told me I had been overcharged, I received a check for a number of hundreds of dollars from the dealership. I don't know if their accounting department caught what the sales department was trying to pull, or if some government agency in Florida instructed them to do it.
The base sales tax in Florida is 6%, and then there are widely varying local amounts in various areas and, IIRC, differing amounts for various big ticket items in various locations, and various cutoffs where the local amount only applies above the cutoff. The percentage that the dealership applied when issuing the refund was the odd amount that resulted from applying all the local and state rules in Florida simultaneously. The effective rate ended up being just a tiny smidge over the flat 6.25% Texas rate that they should have charged me. The difference, IIRC, ended up being under $20 or $30....not worth the phone calls and having to think about it/possibly having to follow up on it, so I just cashed the check.
There are a handful of states that do not tax vehicle purchases, Alaska, Delaware, Montana, NH and Oregon.
To avoid taxes, the vehicle must be purchased and REGISTERED in the state.
Tax rates are variable within many states based on the buyer's county of residence, regardless of where the purchase occured.
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.
The mother (who is in her early 90s) of a friend of mine has a house in the SF Bay Area and also property in Nevada and declares as a resident of Nevada...and has for many decades. She lives off of a large trust and has for many decades. The trust was funded by the sale of land (her (the mother's) father was once one of the largest owners of raw land in the East Bay). Her/the only asset tied to California is the house, located in one of the wealthiest (resident wise) towns in the Bay Area. All of the other assets are in property and investment accounts located in Nevada. For decades she has kept a log of her time in California so that she can prove that she spends 183 or more days outside of California each year.
People with millions and billions make decisions based on finance and it is never personal.
One hedge fund manager lives in FL and flies to Connecticut once a week and lives there for just a couple of days while overseeing his office. He keeps perfects logs of his trips to make sure that he is out of Connecticut for more than 181 days and does not have to pay the state income tax and other taxes. His FL income is state tax free.
Yep. Also see my post #128 re a wealthy person who doesn't work, nor own a brick and mortar company, who also keeps a log to protect against incorrect tax assessments.
The mother (who is in her early 90s) of a friend of mine has a house in the SF Bay Area and also property in Nevada and declares as a resident of Nevada...and has for many decades. She lives off of a large trust and has for many decades. The trust was funded by the sale of land (her (the mother's) father was once one of the largest owners of raw land in the East Bay). Her/the only asset tied to California is the house, located in one of the wealthiest (resident wise) towns in the Bay Area. All of the other assets are in property and investment accounts located in Nevada. For decades she has kept a log of her time in California so that she can prove that she spends 183 or more days outside of California each year.
This tracking of time spent is common for dual state residents.
There are a handful of states that do not tax vehicle purchases, Alaska, Delaware, Montana, NH and Oregon.
To avoid taxes, the vehicle must be purchased and REGISTERED in the state.
Tax rates are variable within many states based on the buyer's county of residence, regardless of where the purchase occured.
In the 'same breath' as mentioning the SD one day domicile thing, Stealth Rabbit has mentioned that Montana doesn't tax vehicle purchases, and he knows that the vehicle must also be registered there. IIRC, most of the times I've noticed him mentioning this (but not every time I don't think) it has been in threads where the the OP is considering being a full time RVer.
With all the junk he will drag down to Florida, Trump will manage to sink Florida into the Atlantic and Gulf of Mexico even faster. "Is it climate change?" "No, it's Trump Change!" Now, the Sunshine State will have another species besides the alligators that have a really big mouth. Welcome to "Swamp-A-Trumpo"!
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