Reply to AG Racine suing Michael Saylor and MicroStrategy

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I know many people who have a second home in FL but work and live in the DMV. If they start cracking down, a lot of people will be selling their FLoria homes. Accountants tell people to buy a house in Florida to avoid state income taxes. [/quote]

Florida is very strict when it comes to residency. You'd better be prepared to show plane tickets, credit card bills, ez pass statements to actually prove you were in fla 6 months plus 1 day. [/quote]

"Very strict" if you're trying to take advantage of in-state tuition at one of their universities. Or the first year in which you are claiming the Homestead Exemption. They really don't give a sh#t outside of those contexts.

What happens is that a very rich person will do six months + 1 day in their first year in Florida in order to have definitive proof they are out of their home state's tax regime. But they they play loosey-goosey with the days in-state after that as they travel back & forth to their home(s) and business(es) in higher tax jurisidictions.

Saylor should've just lived in Virginia on Chain Bridge and taken their 5.75% tax rate (roughly half of DC's income tax rate). Instead, he had to play fast & loose. It wouldn't surprise me at all if he gets audited by Virginia too for state income taxes.  [/quote]

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