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17-03-2012, 14:59
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#1
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Registered User
Join Date: Jul 2010
Location: Pennsylvania
Boat: Pearson 30
Posts: 90
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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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19-03-2012, 05:50
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#2
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Registered User
Join Date: Jun 2008
Location: Tampa, FL
Posts: 5,009
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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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19-03-2012, 06:23
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#3
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Registered User
Join Date: Apr 2008
Location: On the boat - Carib, Chesapeake
Boat: 58 Taswell AS
Posts: 1,139
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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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19-03-2012, 08:01
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#4
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CF Adviser Moderator Emeritus
Join Date: Sep 2007
Location: Virginia
Boat: Island Packet 380, now sold
Posts: 8,942
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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.
__________________
Hud
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19-03-2012, 19:00
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#5
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Marine Service Provider
Join Date: Oct 2007
Boat: Endeavour 42CC
Posts: 1,182
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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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20-03-2012, 09:55
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#6
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Registered User
Join Date: Jun 2008
Location: Tampa, FL
Posts: 5,009
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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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20-03-2012, 10:10
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#7
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Registered User
Join Date: Jul 2006
Location: Massachusetts
Boat: Finnsailer 38
Posts: 5,137
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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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20-03-2012, 10:47
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#8
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Registered User
Join Date: Oct 2010
Location: Marathon, FL
Boat: Hans Christian 33
Posts: 652
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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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20-03-2012, 13:15
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#9
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Registered User
Join Date: Jun 2008
Location: Tampa, FL
Posts: 5,009
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Re: Florida or Penn. residence
Quote:
Originally Posted by ReMetau
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.
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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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20-03-2012, 14:39
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#10
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CLOD
Join Date: Jul 2007
Location: being planted in Jacksonville Fl
Boat: none
Posts: 20,364
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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.
__________________
Don't ask a bunch of unknown forum people if it is OK to do something on YOUR boat. It is your boat, do what you want!
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20-03-2012, 14:50
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#11
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Registered User
Join Date: Aug 2010
Posts: 91
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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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20-03-2012, 14:52
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#12
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Registered User
Join Date: Jul 2006
Location: Massachusetts
Boat: Finnsailer 38
Posts: 5,137
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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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20-03-2012, 14:53
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#13
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cat herder, extreme blacksheep
Join Date: Jul 2008
Location: furycame alley , tropics, mexico for now
Boat: 1976 FORMOSA yankee clipper 41
Posts: 18,967
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Re: Florida or Penn. residence
flagorio has it down.....
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20-03-2012, 16:51
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#14
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Registered User
Join Date: Aug 2011
Location: Venice, FL
Boat: Watkins 27
Posts: 48
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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?
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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...
__________________
Greg
Watkins 27
S/V Family Time
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20-03-2012, 16:58
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#15
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Registered User
Join Date: Jul 2006
Location: Massachusetts
Boat: Finnsailer 38
Posts: 5,137
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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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