Anyone looking for a free website focused on bank and thrift takeovers and conversions should drop by.
Y'all had some good points about Florida....I'm just saying it's not for everyone. OJ was attracted by the tax laws as well as the abundant supply of white women. I grew up on Long Island and know several people/couples who retired to the sunshine state only to head back to NY in a few years. I was a bank mgr in Miami....is Dade still part of the US? BTW the first three letters of my name should tell you were I am now.
O.J. Simpson moved to Florida, and I am sure he had more reasons than anyone at this site. There are MANY grandfathered laws that were put into place before we had air conditioners. There had to be incentives to get people to come, and Florida was a hot place to live in the 40's.
No state taxes and no taxes on prescription drugs or food items. Plus the homestead exemption laws that attract people like O. J. where your home is protected against legal process. -- the spendthrift laws, I think they are called.
My home has tripled in 6 years, and then if you are over 62, you can take a reverse mortgage -- tax free money of 5 percent on a portion of the equity of your home.
Forgot to ask, are CD's, Savings Accounts, & Mutual Funds considered Intangible & Taxed...? I looking to park my monies Legally before making the move, in an effort to avoid additional taxes,
THANKS, as this is Excellent.... Been trying to plan 'the great escape from New York', & want to hide & protect the assets from the Tax Man like everyone else, Legally of Course..:-) Thanx Again,
FL taxes consist of 4 items:
1. property (tangible for residents);
2. intangible (stocks & bonds for res & biz);
3. tangible (for biz); and,
4. sales tax (6% for state and most counties add'l 1%).
Intangible is NOT against IRAs & 401Ks.
Property taxes "approx" 2K for each 200K of house.
Tangible I don't know as I run no biz.
Sales tax is sales tax.
income tax is unconstitutional in FL.