Tax

R

Rafe hollister

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Jan 3, 2013
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Just wondering:Do the teams and driver have to pay taxes in each state that they earn the income,
 
Johali said:
Another reason folks, especially the elderly and athletes, flee to Florida, no state taxes.
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I did a lot of research on this before I retired. There are several states that do not tax a retire's retirement income.
However, they must increase the state monies other ways such as state sales taxes, real estate taxes, etc so it wasn't worth it for me.
I'm sure it depends on amount and type of income.
 
bustedknee said:
I did a lot of research on this before I retired. There are several states that do not tax a retire's retirement income.
However, they must increase the state monies other ways such as state sales taxes, real estate taxes, etc so it wasn't worth it for me.
I'm sure it depends on amount and type of income.
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We have no state income taxes period. I've never filed a state income tax form except in another state when I've had money coming in from there. And I filed the forms and didn't pay any taxes there because I'm a Florida resident.
As far as property taxes go we're in the middle at 27th. See the first link.
My state sales tax is 6% which again is a median rate at 16th and my combined local sales tax is 1.5% for a total of 7.5% if I shop in town. See the second link.
Our median home value is also in the middle at $159,000. See the first link.
We have a few on this board that moved down here when they retired and seem happy with their choice except for the heat and humidity during the summer.

https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585/

https://taxfoundation.org/state-and-local-sales-tax-rates-in-2017/
 
I have a couple coworkers that retired and moved to Florida.Not your typical retirees,one lives full time in a Airstream RV,the other couple bought a sailboat and live permanently in Marathon Key.It will take a lot of convincing to get my wife to do either.
 
darlingtonfan said:
I have a couple coworkers that retired and moved to Florida.Not your typical retirees,one lives full time in a Airstream RV,the other couple bought a sailboat and live permanently in Marathon Key.It will take a lot of convincing to get my wife to do either.
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:D

There's an RV park north of us literally in the country. The guy owns 1,000 acres, has a large lake and 30 spots with power, water, sewage hookups, a bath house and other amenities. There are plenty of fish in the lake for residents only. He's very particular about who he rents to and carefully checks out anyone before he rents to them because it's a long term park. He only charges $200 a month plus the power and water have your utility company meters on his bill that you pay for. It's inherited family land and he just likes the company and it pays for the upkeep and taxes, that's all he wants. There are a lot of places down here like that.
 
ToyYoda said:
One thing I love about living in TN is no state income tax. Sales tax is high as f**k here though.
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Yep. Your state average is 9.46%. Second highest in the country behind Louisiana.
 
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