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Reply to "So many Florida license plates..."
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[quote=Anonymous]Funny to see certain people immediately shriek tax cheats. These people are just doing what the various state laws allow them. Florida makes it easy to establish residency and also doesn't demand that you spend six months +1 day in Florida. You just need to spend no more than six months + 1 day in any other single state. There's been a major "drain" of higher net worth people setting up residency in Florida because of the generous tax benefits. Have a property in Florida, a property somewhere for the summer, and keep your original residence in the DMV for seeing friends and your doctors. Or have a Florida PO box and spend most of the winter in the Bahamas/Caribbean and six months - 1 day in DMV. Still very legal. That's what my aunt and uncle do. They probably spend no more than six weeks of the year in Florida and the rest of the time is between MD and the Bahamas, but they're still legally Florida residents. FYI you still pay property taxes where the property is. Once you declare residency in Florida or any state outside Maryland, you lose your homestead tax credits. [/quote]
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