I am planning on moving to Florida for 6 months. The other 6 months I will reside in Rhode Island. What determines my residency? Does Florida have State Tax Returns that need to be filed? Are there any websites where I can read up on this? Thanks!
United States - 1 Answers
Random Answers, Critics, Comments, Opinions :
1 :
If you maintain a residence in each state, then you are a part year resident of each state, and each state will tax the income you make in that state only. The good news is that Florida doesn't have an income tax. The bad news is that they have a tax on your intangible assets like stocks, bonds, and other assets. So they like people who work there and punish those who want to retire there. So if you are working there half the year, you have it made - no income tax on that money!
Read more discussions :
- Where is the safest place to live in florida
- What is the best place to live in Florida if you h...
- Where Is The Best Place To Live In Florida For Wor...
- Where is the best and cheapest location to live in...
