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Domicile: Was Re: [A/S] tow vehicle choice
Yup, they have state inc. tax. Looking at overall picture for us at
the 'moment' - need to think about sales tax. Maine has 5% NM has
3.5% Got rid of our problem tow vehicle and bought the Duramax
almost a month ago. Plus we have ordered the '03 34' Limited w/
slideout. So mucho sales tax savings for the moment..
And looking at the 'future': can save mucho on vehicle & trailer
registrations, excise tax, inspections, the insurance will be just a
bit more, the income tax will be the same or less than Maine as we
are low income. Looked into some of the other no income, no sales
tax states and are going with New Mexico.
Anyone thinking of domicile needs to look at all aspects for their
situation. South Dakota, Oregon (if you truly buy property), Texas,
Florida are great for lots of people. We also looked at Montana
where we could have gone thru lawyers to form a company that
would 'own' RV, we would be officers to use the RV, and NO sales tax,
and no need to declare residency with Montana. But we're chicken.
Don't won't to take chances of possible income tax nightmare down the
road when we dissolve the corporation.
Cindy & Carl