currinh
Active member
- Joined
- Jan 4, 2018
- Posts
- 30
We're planning to go full time as soon as we sell our house this spring. The thought is to domicile in South Dakota for all the known reasons. The plan is to obtain a PMB (personal mail box, likely Americas Mailbox) in SD. Then obtain drivers licenses, vehicle registration, etc. there. Move everything we can to SD. Thinking though this move the one sticking point is financial institutions. Financial institutions require a physical address. I think they all do now, or are in the process of requiring it.
So, it's been suggested we use a friend or relatives address. We know no-one in SD that we could use. Do have a niece in Wisconsin which would work well. However, I'm concerned that giving them a Wisconsin address, even with a SD mailing address, would trigger income tax liability in Wisconsin. The big chunk is in Vanguard who do require a physical address. Has anyone come up against this problem, domicile in SD but stating physical address to financial institutions in another state?
Second option is to buy a house in Prescott Arizona, where we plan to land in 1 or 2 or 10 years, and rent it till we're ready for it. Have to pay taxes on the rental in AZ. But could we use this address for finances? Same trouble though, could there be tax liabilities in AZ by declaring that rented house as our physical address?
Anyone have experience domiciling on state A, but giving an address to financial institutions from state B?
Just trying to think though be problems before they smack me in the face. Thanks for any help.
So, it's been suggested we use a friend or relatives address. We know no-one in SD that we could use. Do have a niece in Wisconsin which would work well. However, I'm concerned that giving them a Wisconsin address, even with a SD mailing address, would trigger income tax liability in Wisconsin. The big chunk is in Vanguard who do require a physical address. Has anyone come up against this problem, domicile in SD but stating physical address to financial institutions in another state?
Second option is to buy a house in Prescott Arizona, where we plan to land in 1 or 2 or 10 years, and rent it till we're ready for it. Have to pay taxes on the rental in AZ. But could we use this address for finances? Same trouble though, could there be tax liabilities in AZ by declaring that rented house as our physical address?
Anyone have experience domiciling on state A, but giving an address to financial institutions from state B?
Just trying to think though be problems before they smack me in the face. Thanks for any help.