Work in NY but reside in Florida?

[Acurakidd]

What is the name of your state (only U.S. law)? New York City, Florida, Pennsylvania

I need some serious advice. I currently reside with my mother in NY. I live in her apt. I work in NY also. I have a drivers license and everything else registered in NY as well.

I'm getting ready to make some investments and will be buying a couple of properties in Florida and Pennsylvania, but will still reside with my mother in NY.

I have friends who live in Florida and also in Pennsylvania and they always brag about cheap car insurance, lower tax rates, etc...

Considering the fact that I will now have apartments in both those states, I want to give up my NY drivers license and register in either Florida or Pennsylvania.

My questions would be, how would my tax work if I am a legal resident in lets say Florida but work in NY? Same question but lets say Pennsylvania?
The obvious purpose of me registering in one of these states would be to of course save some money on car insurance, and taxes, would this work out?

By the way, I am currently single and don't have any dependents.

 

[justalayman]

So, do you plan on commuting from Florida to NY on a regular basis?

if you continue to actually reside in NY, you will remain a NY resident and be taxed as such.

 

[Acurakidd]

So since its considered unreasonable to travel back and forth from Florida to NY on a daily basis for work, would it be better I register in Pennsylvania?

The travel time is about an hour from my job in NY to where I'm buying an apartment in Pennsylvania.

Also, who will be checking where in really reside? Wether I sleep at home in my moms apartment but am registered in PA, who will actually know?

 

[ecmst12]

You can't get PA rates on a car that is GARAGED in NY, without committing fraud and lying about where you park it. Which is illegal and not recommended.

 

[davew128]

Laughing at the idea of thinking its an hour drive from PA to even the Outerbridge on Staten Island.

FWIW, another guy tried and failed to make the case he lived in Florida and worked in NYC. His name was JETER.

 

[OHRoadwarrior]

Committing tax and insurance fraud is not recommended. They can result in refusal of coverage and jail time.

 

[tranquility]

The answer is, it depends. Sure, anyone who is not so stupid as to drown when it rains because his mouth is agape as he looks at the sky, would prefer to be a Florida resident as opposed to a New York resident in relation to personal income tax.

Sheesh.

The state you are a resident of or are taxed upon depend on all the rules. Lots of rules. The main one being the totality of the circumstances. (Not the only one. New York has aggressive rules.) A one fact this or a one fact that is not going to decide the issue. See a tax professional who will review it all. He may do some research as well. From a personal perspective, New York may not discover such matters, but if they do, they are extraordinarily aggressive in collecting them.

Really, where do you live? That's where I would start.