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Old 03-11-2013, 10:20 PM   #15
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Fired mine

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Originally Posted by Libero View Post
In my view "Tax Evasion" is bad but "Tax Avoidance" is just being smart and is good.

Besides, I think I can make my money do more good than governments can so I will never give more tax than I LEGALLY must. I will fire my tax consultant if I find out he did not find every loophole or regulation he can apply to my advantage yet keep me clean with the taxman.

Is there anyone that would not like to "avoid" taxes?
I did fire my Tax Consultant after finding out I could have deducted a medical expense that occurred out of the country! She just didn't "think" that it was right to go somewhere else to get surgery done, that I should have had it done in the U.S.. Needless to say I was not a happy camper!
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Old 03-11-2013, 10:20 PM   #16
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What we are planning is to rent out the s&b and to be full timing for a minimum of 5 to 10 years, not sure we want to come back here but do not want to sell out as of yet, the license fees, insurance, and the little tax break would be helpful and I would prefer not to have to come back each year for the emission testing on our MH to renew the registration. At this point in time I don't feel we will be back but I don't know for sure.
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Old 03-11-2013, 10:37 PM   #17
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Quote:
Originally Posted by mole007
What we are planning is to rent out the s&b and to be full timing for a minimum of 5 to 10 years, not sure we want to come back here but do not want to sell out as of yet, the license fees, insurance, and the little tax break would be helpful and I would prefer not to have to come back each year for the emission testing on our MH to renew the registration. At this point in time I don't feel we will be back but I don't know for sure.
I hear ya. And this is where I felt like you were heading in your post. It took a lot of deliberation for us to decide it was best for us to be in an apartment ahead of retirement and going full time. We just decided we didn't really want to live here and don't know where we want to retire. Some say rent and use the cash flow - and if the market is down why sell. I think as long as you're renting the place you'll be ok. Maybe think about using a property management company to deal with things for you. Might be worth the money not to have to deal with it while seeing the country, and would show your business dealings with an SD address. Good luck.
Steve and Annie
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Old 03-12-2013, 05:28 AM   #18
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SD does not have any vehicle inspection.

Your mail forwarding service can handle initial registration and renewal, all by mail.

You only need to go to SD initially to get your drivers license and every 5 years after that to renew your drivers license.
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Old 03-12-2013, 08:01 AM   #19
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You do NOT have to use the address of where you stayed as your legal residence.

We stayed at our favorite Black Hills RV park (Rafter J Bar) and use the America's Mailbox location as our address.

America's Mailbox does have a RV park at their facility, right off the freeway (and almost right next to the PILOT), if that is easier for you. For what it's worth, the driver's license station is 10 minutes from America's Mailbox. We were in and out in 10 minutes. We let America's Mailbox take care of our titles, after we learned you could wait in line (at a different location than the driver's license station) for half a day or more. They do charge, however, for that service.

The only reason we'd have to go back is once every 5 years to renew the driver's license, although we expect to go back more often as we really like the area. We did vote absentee.

We became SD residents in mid June. Having just completed our taxes, one half year of SD residence saved us about $3500 in Wisconsin income taxes.
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Old 03-12-2013, 09:17 AM   #20
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Just last week SD SB45 was approved and signed by the GOV, reinstating DL renewal by mail every other renewal. So in the future you will only have to go in person once every 10 yrs.
This only applies after you have shown up in person with your identity docs to get the new "Real ID" law compliant license. (thats a federal law, not SD)
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Old 03-12-2013, 09:57 AM   #21
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Here is a scenario, we are already set up with a Montana LLC on our coach and car and have went fulltime as of November. We have a contract on the house to sell and soon we need to set up a residence. Can drivers licence be set up in Mt or do we need to change the registration's to SD?
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Old 03-12-2013, 10:48 AM   #22
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SD does not have an income tax and MT does, which is why most folks with a Montana LLC do not use MT for their domicile.
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Old 03-12-2013, 01:05 PM   #23
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S.D. does not require a special endorsement for a recreational vehicle. Nor do you have to reside in the state for 24 hours to get a D.L. Proof of a 24 hour stay, such as RV park receipt (with you name on it) is required for voter registration. Thirty consecutive day stay (proof required again) for C.P.L.

I do know from my former state (Washington) that W.S.P. has a "clip file" where out of state licenses are entered and looked up. It the same out of state license keeps popping up they use it for p.c. For a stop. If you D.L. and plate are from the same state there is no problem.
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Old 03-12-2013, 02:39 PM   #24
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Some Advantages for being a South Dakota Resident

* No State Income Tax
* 3% Excise Tax on net Purchase of Vehicles, RV's
* Ranks 47th in Lowest private Passenger Vehicle Insurance
* No State Inheritance Tax
* No Intangible Tax on Investments
* Low Vehicle License Fees
* No Vehicle Inspections
* No Vehicle Smog Tests
* Vehicle registration renewal available on-line

Tax Burden for South Dakota Retirees:

Many people planning to retire use the presence or absence of a state income tax as a litmus test for a retirement destination. This is a serious miscalculation since higher sales and property taxes can more than offset the lack of a state income tax. The lack of a state income tax doesn’t necessarily ensure a low total tax burden. Following are the taxes you can expect to pay if you retire in South Dakota:

Sales Taxes
State Sales Tax: 4% (prescription drugs exempt); municipalities may add up to an additional 2.75%. Residents who are age 65 and older and have a yearly income of under $9,750 (single) or in a household where the total income was under $12,750 are eligible for a sales tax refund.
Gasoline Tax: :* 24 cents/gallon
Diesel Fuel Tax: * 24 cents/gallon Cigarette Tax: $1.53 cents/pack of 20 * Tax rates to do not include local option tax of 1 cent.

Personal Income Taxes
No state personal income tax, Retirement Income: Not taxed.

Property Taxes
Property is assessed at 85% of market value between counties. Assessors determine the market value of property by using a combination of the following three approaches:
(1) Cost approach whereby the assessor estimates the cost of replacing the property (structures), reduces that amount by its age (depreciation) and adds the value of the land.
(2) Market approach whereby the assessor compares the subject property to like properties that have recently been sold.
(3) Income approach in whereby the assessor uses the value of the projected income from a property to determine its value. For more information refer to Property TaxProperty taxes are assessed and collected by local government entities. A tax freeze and/or municipal property tax reduction is available for seniors age 65 and older, and disabled persons. Single homeowners 66 and older who earn $10,000 or less can get a refund of up to 35% of taxes paid. Multi-person households headed by someone 66 and older, where the combined income is $13,000 or less, are eligible for a refund of up to 55% of taxes paid.
The state has several other property tax relief programs. For details refer to Property Tax: Property Tax Relief Programs
There is a property tax exemption for disabled veterans. Veterans that have been rated as permanently and totally disabled as the result of a service connected disability may be eligible for up to $100,000 of their property value to be exempt from property taxes. Refer to www.state.sd.us/drr2/propspectax/property/disabledveteransforweb.pdf.
The state has a property tax homestead exemption that delays payment of property taxes until the property is sold. Taxes are a lien on the property and must be paid along with interest before the property can be transferred. For more information on all property taxes, property tax publications or call 800- 829-9188.
Inheritance and Estate Taxes - There is no inheritance tax and the estate tax is limited and related to federal estate tax collection.

For further information, visit the South Dakota Department of Revenue site www.state.sd.us/drr2/revenue.html or call 800-829-9188.

For information regarding drivers licenses and vehicle registration, visit SD Dept of Public Safety South Dakota Department of Public Safety: Licensing: Driver Licensing

[Source: Welcome to the Retirement Living Information Center Nov 2010 ++]
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Old 03-12-2013, 05:32 PM   #25
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Quote:
I think that what you are talking of doing is not good you are talking about shunning your obligations as citizens and taxpayers
I think it is called freedom of movement. The poster will now be a resident of a new state, hardly shunning his obligations.

Nick
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Old 03-12-2013, 10:10 PM   #26
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I think that what you are talking of doing is not good you are talking about shunning your obligations as citizens and taxpayers
As a citizen of CA I voluntarily accepted the obligation to wear the Army uniform for over 20 years while others refused to serve. I paid taxes to my home state and paid more taxes on my retired military pay for another 21 years. I do not believe it was obligation to support and pay for illegals to attend CA State Universities and educate elementary children in the achievements of homosexuals. So I exercised my right to disagree and moved out of CA. I believed I earned that right and defended yours for over 20 years.

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