New Jersey has one of the highest income taxes in the nation. New Jersey’s income tax rate can range from 1.4% to 8.97% on state income. The state of Florida has no state income tax. Consequently, if you are a New Jersey resident and you want to reduce your potential tax liability, becoming a resident of Florida can help you do that.
If you are planning a move, or you currently have property and spend time in both states but are unsure which state is your legal residency, you need an experienced lawyer, well-versed in the laws of both jurisdictions, to make certain you take the right steps to legally change your domicile.
There are several steps that you should take in order to legally establish a new domicile.
There are many benefits to becoming a Florida resident.