A person may have more than one residence, but they may have only one
domicile. You choose your residence when you decide where you are sleeping
tonight, where you garage and insure your vehicle, where you are counted for
the census and where you are allowed to vote. You choose your domicile
when you own or hold any real property, join a government registered
organization, hold a driver license or other government issued identification
card, buy insurance, open banking relationships or create a Last Will and
Testament that will requre probate. Your Domicile determines your tax
liability.
There are three things to consider which require you to declare Florida as
your domicile.
1 - Do you work for a employer who is registered in Florida and pays workers
comp and unemployent taxes on your wages based upon Florida rates?
2 – Do you have children in Public or tax supported school in Florida?
3 - Do you spend more than 50 percent of your time during the year or more
than six consecutive months within the borders of Florida?
If you answer yes to any of these questions, then you are required to place
your domicile in Florida. Since other states have similar laws, you will need
to check your state laws in your current state of domicle.
Three taxes in Florida
Estate Taxes - Apply on estates with a NET value above the Federal Limits.
2021 limits were 11.7 Million. See www.irs.gov for current limits.
Property Taxes - Due on Real Property, all other tangible and intangible
property is exempt.
Sales and Use Tax – Due when you make a purchase for use or initial delivery
inside of Florida. Personal Services and non prepared food are exempt from
Sales Tax.
Only domicile some of your property in Florida
Use a Fast Forward Membership to register your vehicle in Florida
Declare Florida as your domicile
Use Fast Forward Address Service to establish your Florida domicile
Maintaining your Florida domicile status
Use Fast Forward Mail forwarding to maintain your domicile in Florida
Getting a Fast Forward Membership is easy
|