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

Yes. I would move

[ 6 ]

[ 21.4% ]

No. I would not move

[ 15 ]

[ 53.6% ]

I already live in a non income tax state

[ 7 ]

[ 25.0% ]

Total valid votes

[ 28 ]

Discarded votes

[ 6 ]

whiteballz

Nutley, New Jersey
United States
Member #131,052
August 1, 2012
904 Posts
Offline

Dec 4, 2013, 4:57 am

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

100

The Hall Of The Mountain Kings Tennessee
United States
Member #73,902
April 28, 2009
15,378 Posts
Offline

Dec 4, 2013, 5:09 am

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.
billionaire2bee

United States
Member #130,809
July 25, 2012
1,636 Posts
Offline

Dec 4, 2013, 7:18 am

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

100

mid-Ohio
United States
Member #9
March 24, 2001
20,272 Posts
Offline

Dec 4, 2013, 8:14 am

Quote: Originally posted by whiteballz on Dec 4, 2013
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 every combination, just the winning ones *
mypiemaster

LOOK WHO IS LAUGHING NOW.

EUPHORIA.
United States
Member #141,028
April 2, 2013
1,536 Posts
Offline

Dec 4, 2013, 8:37 am

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 ****John Carlton****
sully16

25

Ringleader

Michigan
United States
Member #81,738
October 28, 2009
127,918 Posts
Offline

Dec 4, 2013, 9:31 am

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.
Astekblue

Kentucky
United States
Member #35,085
March 12, 2006
10,374 Posts
Offline

Dec 4, 2013, 10:11 am

Quote: Originally posted by sully16 on Dec 4, 2013
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.

LOL
Toronto

United States
Member #135,798
November 29, 2012
419 Posts
Offline

Dec 4, 2013, 12:30 pm

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

100

The Hall Of The Mountain Kings Tennessee
United States
Member #73,902
April 28, 2009
15,378 Posts
Offline

Dec 4, 2013, 12:32 pm

Quote: Originally posted by sully16 on Dec 4, 2013
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

Estero, FL
United States
Member #120,837
December 28, 2011
458 Posts
Offline

Dec 4, 2013, 12:39 pm

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
New York

NYC
United States
Member #117,979
October 19, 2011
1,847 Posts
Offline

Dec 4, 2013, 12:41 pm

Quote: Originally posted by Toronto on Dec 4, 2013
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.

~ Win NY Pick 3 ♦ Create Pick 4 Numbers ♦ Create Pick 3 Numbers ♦ Pick 5 Numbers And Win ~
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,038 Posts
Offline

Dec 4, 2013, 12:51 pm

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.
ogivens15

elkton, maryland
United States
Member #85,562
January 18, 2010
1,125 Posts
Offline

Dec 4, 2013, 12:54 pm

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

ogg
BobP

Dump Water Florida
United States
Member #380
June 5, 2002
3,574 Posts
Offline

Dec 4, 2013, 12:58 pm

Quote: Originally posted by New York on Dec 4, 2013
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

Estero, FL
United States
Member #120,837
December 28, 2011
458 Posts
Offline

Dec 4, 2013, 1:04 pm

Quote: Originally posted by ogivens15 on Dec 4, 2013
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

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