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Keigm

Best Domicile?

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I’ve been trying to figure out the best domicile to claim.  We are not Full timers but close.  We still want to maintain our home but will be in our RV somewhere between 50-75% of the time traveling around the US.  It seems the 3 best places to take advantage of their state laws (legally) are Texas, South Dakota, and Florida.  I would like to get some feedback from those with more experience than myself.  We have just retired and ready to experience the US.  Our state of NM is seriously considering raising just about every tax that one can imagine.  It will not be the most afordable place to be retired in.  

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Be sure that you are aware 0f the Texas driver license law for RV's over 26,000 # before choosing that state, Florida still does not require one yet, don't know about South Dakota. Just search in the search above to see what some of our friends from Texas say about it.

I am not saying anything bad about it, just making sure you are informed to help you make the right decision.

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Keigm,

I don't think there is any one place that is "paradise," excluding those cities with the name Paradise. The Texas Gulf Coast, and Florida, have hurricanes. More than once we have evacuated because of them. As you get away from the Texas Gulf Coast you run into other items that you may not wish to have, floods, cold, heat, etc.  South Dakota would be to cold for me.

The Hill Country of Texas is nice but it can get cold there.  As for the Hurricanes, if you get about 100 miles or more inland the threat is considerably reduced.

Others should be along with their opinions shortly.

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If you're going to maintain your home in New Mexico then wouldn't that be your domicile? Seems like the easiest to do. I just read a survey of the cost to retire in various states, and New Mexico came in just a bit above the national average statewide.

I've lived in a number of states, and it seems that you end up paying in one way or another. Some states have no income tax, but they have higher fees for things like vehicle registration to make up for it. States like Wisconsin have an income tax, but there is no personal property tax for individuals so my coach only has a $118 registration fee with no annual tax.

It's hard for any of us to recommend on state over another without knowing all the details of your particular situation, especially how your income and taxes are set up.

My hunch is that New Mexico isn't the only state that will see an increase in some taxes in the coming years. Wisconsin saw lots of tax reduction in recent years, but it looks like the bill is coming due for things like roads and schools and taxes will likely head up again. Probably the same in lots of places that were trimming budgets recently. It's all in the math, and eventually things have to be paid for.

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Not sure what you are looking for, Washington state has the following to offer.

1. No state income tax

2. No special drivers license required

3. Reasonable Annual tags (mine $106 annually 2004 HR 40')

4. Reasonable Insurance premium ($960 per year) 

5. No annual vehicle inspection

 

Jim

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Thanks for the info.  I think if you are on the road more than 50% of the time you can change to domicile to places like SD, TX, or any other place for that matter.  I had heard overall SD is the least expensive but just checking around.

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