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Old 17-03-2012, 15:59   #1
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Florida or Penn. residence

So, here we are finally ready to purchase a boat to liveaboard. But here is the dilemma: i can either get a florida or penn residence. We will be moving around a lot and we need the residence for mail,etcc.. What state does make the mosr sense economically?
Thanks to all for all the help
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Old 19-03-2012, 06:50   #2
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Re: Florida or Penn. residence

Well, Florida has no state income tax, so there's a benefit to that.
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Old 19-03-2012, 07:23   #3
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Re: Florida or Penn. residence

As a cruiser you can establish a Florida residence with St. Brendan's Isle in Green Cove Springs, Florida. This is a mail service for cruisers and travelers in general that receives and forwards mail any where.
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Old 19-03-2012, 09:01   #4
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Re: Florida or Penn. residence

SBI will also open and scan mail for you so you can download it as a PDF file. Very handy and generally cheaper than forwarding the envelopes.
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Old 19-03-2012, 20:00   #5
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Do you have health care insur in Pa? If you have any slight health issue, you will likely get turned down when you become a resident of Fl & apply there.
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Old 20-03-2012, 10:55   #6
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Re: Florida or Penn. residence

WHAT!?! Health care insurance is as readily available and as easy to get in Florida as it is anywhere else.
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Old 20-03-2012, 11:10   #7
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Re: Florida or Penn. residence

Florida probably has lower taxes due to its lack of income tax, but depending on your situation that might not be a problem. If your income is low enough or mostly retirement income it might not matter. However, in order to do your Florida residency right you should move things there like bank accounts, drivers licenses, car registrations, etc. That can be costly and time consuming. Some states will aggressively pursue taxes from you if you try to pretend you are leaving the state but really aren't. However, you may want to actually maintain ties to Penn. and it might just be easier to keep all your licenses etc., especially if you plan on returning there within a few years. As to health insurance, if you're over 65 you're covered, and the ACA means that you can't be turned down for healthcare starting in 2014 and you will also have to be offered a set variety of plans that won't exceed some portion of your income, or else you will get gov't assistance. That will be in every state.
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Old 20-03-2012, 11:47   #8
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Re: Florida or Penn. residence

If you have a car and want to transfer to Florida, they have an impact fee of I think $250, but it is one time. There is no income tax, but other taxes like sales and resort tax are higher and incomes are generally lower. I am a Florida resident.
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Old 20-03-2012, 14:15   #9
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Re: Florida or Penn. residence

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Originally Posted by ReMetau View Post
If you have a car and want to transfer to Florida, they have an impact fee of I think $250, but it is one time.
Lived in Florida for many years, then moved away for a few years, and then moved back just about 3 years ago. I didn't have to pay any such fee when I brought my two cars (both bought outside of Florida). Maybe that's just a Monroe county thing?
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Old 20-03-2012, 15:39   #10
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Re: Florida or Penn. residence

Is there any benefit to being a Penn resident and paying income taxes if you aren't even living there to get the "benefits" the state s going to "give" you in return???????????? Insert any other state for Penn you want ...........except NH where I live that has no income or sales tax!


And yeah I know if I ever get rich enough NH has a tax on capital gains, when that happens I can change to somewhere else.
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Old 20-03-2012, 15:50   #11
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I am a Florida resident but my boat is registered in Rhode Island, and I provision in New Hampshire. No income tax, no boat tax and no sales tax respectively.
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Old 20-03-2012, 15:52   #12
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Re: Florida or Penn. residence

As long as you don't keep that RI-registered boat in another state for more than 60-90 days. For example, Florida wants that boat registered after 90 days in the state.
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Old 20-03-2012, 15:53   #13
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Re: Florida or Penn. residence

flagorio has it down.....
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Old 20-03-2012, 17:51   #14
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Quote:
Originally Posted by denverd0n
Lived in Florida for many years, then moved away for a few years, and then moved back just about 3 years ago. I didn't have to pay any such fee when I brought my two cars (both bought outside of Florida). Maybe that's just a Monroe county thing?
The impact fee is a per unit car fee. Pay it once as as long as you only own one car you never pay again even if you leave the state and then come back with a different car. If you buy a second, third, etc... car you pay another impact fee for the second, third, etc...
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Old 20-03-2012, 17:58   #15
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Re: Florida or Penn. residence

I believe what you mean by the impact fee is the "initial registration fee" of $225 that Florida charges everyone the first time you register a car, wherever it was purchased. Here's a quote from the DMW website

Quote:
Why am I paying a $225 fee for "new wheels?" This is not a new car. The term "initial registration" is confusing.

The term "new wheels" does not appear in the law. Section 320.072, Florida Statutes, requires a fee of $225 to be imposed upon the initial application for registration on certain motor vehicle registration transactions. Whether the vehicle is new or used doesn't matter. Basically, the fee is due on any private-use automobile, any lightweight truck, or any motor home unless the vehicle being registered is a replacement for a vehicle that has been disposed in the same category of vehicles.
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