State Residency

[pmjcaa]

I own property in both South Carolina (2 years) and Maryland (20+ years). I'm divorced and my ex lives in the house in Maryland, I rent an apartment.
My employer is located in Chicago. I travel and spend approx 15 business days a month in Chicago. The rest of the time is split working from home in Maryland or South Carolina.
I would like to establish SC residency, the primary benefits are lower state taxes and in-state college tuition.
Can I declare SC as my primary residence and still maintain rental property, car registration, and a secondary residence?

 

[FarmerJ]

Renting a unit in Chicago should be no different that the snow bird thing many from northern states do when they own a home here and rent or own another home in a southern state , There should be no reason you cannot have SC be your state of residence for taxation , voting and drivers license. Have you looked at how this will impact you regarding income taxes ? What does your tax advisor tell you ?

 

[divgradcurl]

Agree with FarmerJ, talk to an accountant. Most states want you to pay income tax on income earned in their state no matter where your residence is, so this scheme may not save you as much as you hope -- but check with an accountant.

 

[FlyingRon]

State colleges have their own specific rules as to residency for in-state tuition.

Income taxes are a function of both your state of residence and where the income is earned.

You'll pay real estate taxes everywhere you own real estate.

The IRS has it's own way to determine principal residence for federal taxation issues.