Domicile in GA?

[Sandra1953]

I am researching a full-time RV lifestyle. From what I've read, SD, FL, TX are the main options for domicile. I am wondering why GA isn't in that list. It looks like they are kind to retirees tax-wise and the sales tax is pretty low (probably as long as your 'residence' isn't near Atlanta). So, why is GA not in that list of usual suspects?

 

Also, if I decide to not go with the pack on this issue, where does one start in setting up a domicile in a different state (other than leaving the current state of residence behind...in my case, Commonweath.

[whj469]

Does GA make it easy to have a mail box as an address for drivers license vehicle registration and medical insurance?

Many full timers like states that don't have state income taxes , TX SD FL. In Texas these issues have been thru the courts

and Escapees can help a great deal. Good Luck

[LindaH]

As already mentioned, one of the biggest stumbling blocks for setting up a domicile in many states is that they will not allow the use of a mail forwarding service address for such things as driver's licenses and vehicle and voter's registration. I don't know where Georgia stands on this matter, but you'd do well to find out before making the change.

 

There's also the matter of income tax. I don't know if there are classes of income that Georgia doesn't tax (like Social Security, for example), or at what level they do tax income, but why pay income tax as a fulltimer if you don't have to?

 

You might also check into health insurance and if it's available to fulltimers in Georgia. That's become one of the major factors in South Dakota for people who are not yet eligible for Medicare...there is really no insurance available to fulltimers in that state unless you are willing to give them your first-born child plus and arm and a leg!

[Kirk W]

 

Personal income tax

Georgia collects income taxes from its residents at the following rates.

For single taxpayers:

• 1 percent on the first $750 of taxable income.
• 2 percent on taxable income between $751 and $2,250.
• 3 percent on taxable income between $2,251 and $3,750.
• 4 percent on taxable income between $3,751 and $5,250.
• 5 percent on taxable income between $5,251 and $7,000.
• 6 percent on taxable income exceeding $7,000.

Read more: http://www.bankrate.com/finance/taxes/state-taxes-georgia.aspx#ixzz3SlcYUNrz

[AFchap]

Another big factor against GA is the ad valorem/personal property tax you pay every year to register a motor vehicle. That would amount to hundreds or in many cases a few thousand $$$$ EVERY YEAR on many rv's.

[Sandra1953]

Didn't realize that they had VAT. They don't tax SS, have one of the lower sales taxes, exempts up to $35,000 of retirement income...but clearly there are other things to consider as you've all stated.

[Kirk W]

Main reason that the list of favored states is so short is that there are so few states that do not require you to have physical address for registering and insuring vehicles and for maintaining a driving license. That factor alone probably eliminates about 2/3 of the 50 states. There are a lot of things to consider when you select a place for domicile. Legal issues can crop up and cause completely unanticipated problems. If you are not well versed on what domicile can entail, let me suggest that you might benefit from reading this article about things to consider in choosing yours.

[StarDreamers.us]

Good information.

[Sandra1953]

Great article. Thanks!

[mobilcastle]

 

 

Personal income tax

Georgia collects income taxes from its residents at the following rates.

For single taxpayers:

• 1 percent on the first $750 of taxable income.
• 2 percent on taxable income between $751 and $2,250.
• 3 percent on taxable income between $2,251 and $3,750.
• 4 percent on taxable income between $3,751 and $5,250.
• 5 percent on taxable income between $5,251 and $7,000.
• 6 percent on taxable income exceeding $7,000.

Read more: http://www.bankrate.com/finance/taxes/state-taxes-georgia.aspx#ixzz3SlcYUNrz

 

That seems pretty stiff-7% on income over 7K. If you earn 50K that is $3,500. Georgia voted the VAT tax out. You now pay 7% when you re title your vehicles there.

[jerryneal]

Georgia exempts $35,000 in retirement income for those 62 - 64 and $65,000 for those 65 and older.

[mobilcastle]

Glad to hear that.

 

Georgia exempts $35,000 in retirement income for those 62 - 64 and $65,000 for those 65 and older.

[Second Chance]

You might want to check on what it will cost to transfer your vehicle registration to Georgia. They have recently changed the tax structure for motor vehicles (and not for the better). Annual registration, once you've transferred titles, is better now, though. Having lived in Georgia for 25 years (and still live just across the river from Augusta), it's an otherwise good place to anchor. They do not, as far as I know, allow for mail forwarding services with physical addresses (verify that - I'm not certain). We plan on domiciling in Texas when we go full-time (hopefully later this year).

[trostberg]

Mail forwarding addresses do not appear to be allowable for any state if you get a subsidy for your health insurance if you are not Medicare age from what I can tell. It is either a requirement of the health plan themselves or the restriction of what is available in your county. The county level can be as much of an issue as the state level for whether or not you can get a plan that covers you outside of a strict HMO network as well.