Retirement and Taxes

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ChinMusic

ChinMusic

Well-known member
Joined
Jun 27, 2006
Posts
202
Location
Soldotna, AK
For taxes/expenses what states are best for full-timers to use as a home base?  And just what does determine a residence?  Min standards?  Do states "fight over you" if you spend significant time in different state?

I did a quick search and didn't find this covered.
 
The question of domicile comes up frequently as people decide to go fulltime.  There is no one single best state, but Texas, Florida, and South Dakota are usually at the top of the list.  The important answer is to make a positive effort to establish your domicile in the state of your choosing, i.e. get a drivers license, register your vehicles, register to vote.  You don't have to own property in a state to establish domicile.  If you don't establish your domicile in a state, then, yes, you may find that the states will establish it for you, and it won't be to your advantage.

Check the library for some more information.  Try a search on domicile.
 
Ned said:
Check the library for some more information.  Try a search on domicile.
Click to expand...
Thanks, that was not the word that was on the tips of my fingers.....

I have several years before retirement so this is just part of my slow information-gathering phase.  I was reading a thread on CA and it made me think of this. 

Right now my plans after retirement are to maintain a house in Central Illinois and RV much of the year.  Maintaining the home in Illinois will depend, in part, on where my kids settle down.  One is out of college now and teaching for a year in China and the other is a Jr at Illinois.  Should neither stay near the nest I might just bolt myself.
 
There are better choices for a domicile than Illinois :)
 
Ned said:
There are better choices for a domicile than Illinois :)
Click to expand...

Home is home.  When I was a kid I couldn't wait to get out of Illinois.  After college I joined the Army and got a chance to "see" other places.  I simply missed home, and after getting out of the service, moved back.  I suspect my homing-pigeon tendencies will require me to spend some time here after retirement as well.
 
I too am from ILLinos, About 23 miles from St Louis, Mo  and other than going back to see Relatives (aging) and class reunions along with a daughter and grandaughter, I'd never go back  Loving it here is AZ.
 
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