Any downside to becoming a Florida resident?

[Hammer10k]

Hi all,

I'm coming from Georgia. Our SNA in-brief advised us to become Florida residents to save on income tax. Is there any downside to this?

Thank you!

 

[zippy]

Unless you're independently wealthy and subject to Floridas intangible tax, not really.

 

[Hammer10k]

Unless you're independently wealthy and subject to Floridas intangible tax, not really.

Thank you Sir!

 

[Pags]

None. Do it ASAP.

 

[GroundPounder]

Just don't become Florida Man.

 

[Jim123]

https://www.google.com/search?&q=florida+man

 

[SynixMan]

Do it. No state income tax (or income tax return to do) for your active duty time.

And when you get stationed out of state, buy a car, register it in FL, and skip out on sales tax.

 

[insanebikerboy]

And when you get stationed out of state, buy a car, register it in FL, and skip out on sales tax.

Not quite. You pay sales tax where you bought it, just not to Florida. If you somehow convince the seller to not charge sales tax and also don't pay sales tax to Florida, that's considered fraud and brings some serious monetary penalties.

 

[Uncle Fester]

Only downside is if you could be an Alaska resident instead and get some of that sweet pipeline money.

Otherwise, yeah: become a FL resident and stay that way as long as possible. NC and TX are good too.

 

[CAVU]

No downsides.

- Accurate info on vehicle registration. https://www.flhsmv.gov/military/titles-registrations-military-members/
- Get a Florida Drivers license while you are at it.
- Go ahead an transfer the registration of your vehicles.
- Some pencil monkey at PSD might try and give you some crap by asking you some of the questions on the form, but it is very simple, read and then sign at PSD www.dtic.mil/whs/directives/forms/eforms/dd2058.pdf

 

[Hair Warrior]

Sleeve burglars. They're everywhere. No shirt sleeve is safe.

 

[Gatordev]

Do it. No state income tax (or income tax return to do) for your active duty time.

Also not completely true. If/once you move out of FL and you have a spouse, you both get to do a state return. The joy is flipping the bird to the state at the end of the return knowing all that money they took is coming back. Even more satisfying when you get married at the end of the tax year.

I'm looking at you, California....

 

[Swanee]

Not quite. You pay sales tax where you bought it, just not to Florida. If you somehow convince the seller to not charge sales tax and also don't pay sales tax to Florida, that's considered fraud and brings some serious monetary penalties.

The tax collectors office will have you sign some paperwork saying that if you do not enter the state of Florida with the vehicle for a certain amount of time they waive the taxes. This is indeed completely legal as you fulfill your tax obligation to the state of FL. The fines are high if you're caught in violation of said agreement though.

 

[SynixMan]

Not quite. You pay sales tax where you bought it, just not to Florida. If you somehow convince the seller to not charge sales tax and also don't pay sales tax to Florida, that's considered fraud and brings some serious monetary penalties.

In general I'd agree, but this is a specific FL exemption. Saved me a few thousand and is 100% legal. Details in the link I posted.

 

[SynixMan]

Also not completely true. If/once you move out of FL and you have a spouse, you both get to do a state return. The joy is flipping the bird to the state at the end of the return knowing all that money they took is coming back. Even more satisfying when you get married at the end of the tax year.

I'm looking at you, California....

Good point. Was referring to single folks.

If you can swing it, mucho benefits from having your spouse also being a FL resident. I lucked out and got married in advanced and did this. Being residents of the same state also qualifies your spouse for Military Spouse Residency Relief Act, allowing them to keep residency in a state if you get PCSed.