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Would you move to a non income tax state if you won?

Topic closed. 53 replies. Last post 3 years ago by maringoman.

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Would you move to a non income tax state if you won?

Yes. I would move [ 6 ]  [21.43%]
No. I would not move [ 15 ]  [53.57%]
I already live in a non income tax state [ 7 ]  [25.00%]
Total Valid Votes [ 28 ]  
Discarded Votes [ 6 ]  
whiteballz's avatar - Lottery-015.jpg
Nutley, New Jersey
United States
Member #131058
August 1, 2012
875 Posts
Offline
Posted: December 4, 2013, 4:57 am - IP Logged

There are 7 states that do not impose income tax on their residents. The 7 states are:

Alaska
Florida
Nevada
South Dakota
Texas
Washington

Wyoming

 

If you won a jackpot of 5 million dollars or more, would you move to one of these states? You will most likely have to pay taxes from the state where you won the lottery the year you won but all your future income will not be taxed by the state. Would it be worth it to you?

.

    rdgrnr's avatar - walt
    Way back up in them dadgum hills, son!
    United States
    Member #73904
    April 28, 2009
    14903 Posts
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    Posted: December 4, 2013, 5:09 am - IP Logged

    We have no tax in Tennessee either.

    Nor does NH.

    Good thing too, cuz I got the high ground here.

    And that's how I like it.


      United States
      Member #130815
      July 25, 2012
      1636 Posts
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      Posted: December 4, 2013, 7:18 am - IP Logged

      Ive always wanted to move to Miami, but Im going to end up paying taxes here cause this is where I"ll win anyways...but Im not moving because there is no state income tax

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
        Member #9
        March 24, 2001
        19828 Posts
        Offline
        Posted: December 4, 2013, 8:14 am - IP Logged

        There are 7 states that do not impose income tax on their residents. The 7 states are:

        Alaska
        Florida
        Nevada
        South Dakota
        Texas
        Washington

        Wyoming

         

        If you won a jackpot of 5 million dollars or more, would you move to one of these states? You will most likely have to pay taxes from the state where you won the lottery the year you won but all your future income will not be taxed by the state. Would it be worth it to you?

        Moving to Florida didn't help David Edwards hang on to his lottery winnings.

         * you don't need to buy more tickets, just buy a winning ticket * 
           
                     Evil Looking       

          mypiemaster's avatar - 2015021003pileofcash
          JACKPOT HUNTER

          United States
          Member #141034
          April 2, 2013
          1408 Posts
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          Posted: December 4, 2013, 8:37 am - IP Logged

          Already too late after you won.

          Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

          Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

            sully16's avatar - sharan
            Ringleader
            Michigan
            United States
            Member #81740
            October 28, 2009
            40487 Posts
            Online
            Posted: December 4, 2013, 9:31 am - IP Logged

            I'll stay in Michigan, freeze my butt off in winter and stew in my own juices in summer, heat on in the morning, air on at night, mosquitos the size of humming birds, migrating geese that deliver special packages all over my freshly washed car.

            Flash floods, drought, 5 feet of snow.

            Ahhhh...There's no place like home.

            Did you exchange a walk on part in the war ?

            For a lead role in a cage?

             

                                                        From Pink Floyd's " Wish you were here"

              Astekblue's avatar - Tarlor
              Kentucky
              United States
              Member #35086
              March 12, 2006
              10374 Posts
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              Posted: December 4, 2013, 10:11 am - IP Logged

              I'll stay in Michigan, freeze my butt off in winter and stew in my own juices in summer, heat on in the morning, air on at night, mosquitos the size of humming birds, migrating geese that deliver special packages all over my freshly washed car.

              Flash floods, drought, 5 feet of snow.

              Ahhhh...There's no place like home.

              Smile      LOL

                Avatar

                United States
                Member #135804
                November 29, 2012
                318 Posts
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                Posted: December 4, 2013, 12:30 pm - IP Logged

                At some point down the line, yes, but I will have multiple homes that I will spend the rest of the half of the year at.

                  rdgrnr's avatar - walt
                  Way back up in them dadgum hills, son!
                  United States
                  Member #73904
                  April 28, 2009
                  14903 Posts
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                  Posted: December 4, 2013, 12:32 pm - IP Logged

                  I'll stay in Michigan, freeze my butt off in winter and stew in my own juices in summer, heat on in the morning, air on at night, mosquitos the size of humming birds, migrating geese that deliver special packages all over my freshly washed car.

                  Flash floods, drought, 5 feet of snow.

                  Ahhhh...There's no place like home.

                  Look at the bright side though, sully.

                  You can go to Mackinac Island and buy fudge from 137 different Fudge Shoppes, all right next door to each other.

                    NightStalker's avatar - 50logo
                    East of Columbus, OH
                    United States
                    Member #120843
                    December 28, 2011
                    451 Posts
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                    Posted: December 4, 2013, 12:39 pm - IP Logged

                    Yes, to Texas.  I would move there now if I could afford it, plus I wouldn't want to be that far from my parents if something happened.

                    Life's Too Short To Be Unhappy Cool

                      New York's avatar - 103h4yr
                      NYC
                      United States
                      Member #117984
                      October 19, 2011
                      1843 Posts
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                      Posted: December 4, 2013, 12:41 pm - IP Logged

                      At some point down the line, yes, but I will have multiple homes that I will spend the rest of the half of the year at.

                      No offense, but folks, this is how certain people end up like David Edwards.

                      And NO.

                      When the big hit comes, I'll stay right here in NYC and buy a nice little townhouse, near the West Side Highway.

                        noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                        Bay Area - California
                        United States
                        Member #136477
                        December 12, 2012
                        4108 Posts
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                        Posted: December 4, 2013, 12:51 pm - IP Logged

                        Not a chance.  The nearest State to have that set up is Nevada and its a nice place to visit but l would not want to live there under any circumstances. Take away Las Vegas & Reno and its a dry well for me.l like the idea of being close to the Ocean & 4 hours away from snow, since l snowboard come winter. California has it all along with the high taxes but its home. Could be worse elsewhere. Love seafood as well- if l moved to Nevada,  they probably would serve frozen crab and that's a complete no-no.

                          Avatar
                          elkton, maryland
                          United States
                          Member #85565
                          January 18, 2010
                          1028 Posts
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                          Posted: December 4, 2013, 12:54 pm - IP Logged

                          Moving would not help anyone..You will pay taxes on the state you live in............Too late.

                          ogg

                            BobP's avatar - bobp avatar.png
                            Dump Water Florida
                            United States
                            Member #380
                            June 5, 2002
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                            Posted: December 4, 2013, 12:58 pm - IP Logged

                            No offense, but folks, this is how certain people end up like David Edwards.

                            And NO.

                            When the big hit comes, I'll stay right here in NYC and buy a nice little townhouse, near the West Side Highway.

                            Somehow I can't shake the feeling that being a drug addicted jail bird was why David Edwards lost it all.

                            http://www.nydailynews.com/news/national/unemployed-ex-con-turned-powerball-winner-dies-hospice-article-1.1536710

                            On the other hand, you can kill a man giving him all that drug and booze money all at once.  At least he had a good ride before going over the cliff. 

                            BobP

                              NightStalker's avatar - 50logo
                              East of Columbus, OH
                              United States
                              Member #120843
                              December 28, 2011
                              451 Posts
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                              Posted: December 4, 2013, 1:04 pm - IP Logged

                              Moving would not help anyone..You will pay taxes on the state you live in............Too late.

                              ogg

                              Right, but further income would not be taxed, if I understand how it works.

                              Life's Too Short To Be Unhappy Cool