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  1. #16
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...



    Quote Originally Posted by HoustonRaven View Post
    Have you seen the 30 For 30 documentary "Broke"?

    It talks about how numerous athletes do just that to avoid high tax states.
    I'm sure some do. But Flacco to me has always seems like a grounded, family-oriented guy. He said he still gets together with his family for pizza every Friday night and they all live within a few minutes from each other in Jersey. I can't see a guy like that moving to Florida just to avoid the high taxes in NJ or MD.




  2. #17
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Losac View Post
    I'm sure some do. But Flacco to me has always seems like a grounded, family-oriented guy. He said he still gets together with his family for pizza every Friday night and they all live within a few minutes from each other in Jersey. I can't see a guy like that moving to Florida just to avoid the high taxes in NJ or MD.
    You don't have to physically move there, just buy property there and claim it as your primary residence.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  3. #18
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by HoustonRaven View Post
    You don't have to physically move there, just buy property there and claim it as your primary residence.
    I thought you actually had to live at the property X number of months out of the year to claim primary residency there. And who sets that rule, the IRS or is it different for each state?




  4. #19
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Florida had no state income tax. It was also a shithole and it took me forever to escape.




  5. #20
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by HoustonRaven View Post
    You don't have to physically move there, just buy property there and claim it as your primary residence.
    Technically, you have to become a resident and there are a series of tests that go into determining if you truly are a resident of you just own property there. Do you vote there? Is your car registered there? Do you have a license in that state? Do you spend more days in that state than in Maryland?

    The state tax officials are onto this sort of thing and it isn't enough just to buy property there. You have to spend at least 183 days out of Maryland and be able to show that you truly are a resident of a different state -- not just a property holder there. If all one had to do was buy property, I think many, many Marylanders would just buy property in Florida, New Hampshire, Nevada, etc. and never set foot there. Sadly, just buying property in and of itself doesn't work to get the Maryland tax man off of your back.

    I fully agree with Mista T on this one...




  6. #21
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Losac View Post
    I thought you actually had to live at the property X number of months out of the year to claim primary residency there. And who sets that rule, the IRS or is it different for each state?
    Federally, I don't think you have to live anywhere for a certain period of time. But that could have changed. Hypothetically, nor could they ever find out anyway. For example, say Joe had a cousin in Texas and the cousin lived in a house that was under Joe's name. Joe can easily say "Yes, I live there from time to time" and there's nothing the IRS could do or say.

    From a state standpoint, yes, it's different. When I moved here from CA, I still had to pay a full years worth of state taxes for the 5 months I lived in CA that year.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  7. #22
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    I read that Flacco's combined income tax bill will be 52%. Not including the sales tax and excise taxes he'll pay on top of that. I wonder if that's higher or lower than their secretary's? Maybe Flacco needs Warren Buffet's accountant.

    But on the bright side (for Flacco at least) is that he can put the money in the stock market and pay advantaged rates henceforth, although Obama is mitigating a lot of the benefit of the long-term capital gains rates on the wealthy.




  8. #23
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Hammerhead View Post
    Technically, you have to become a resident and there are a series of tests that go into determining if you truly are a resident of you just own property there. Do you vote there? Is your car registered there? Do you have a license in that state? Do you spend more days in that state than in Maryland?

    The state tax officials are onto this sort of thing and it isn't enough just to buy property there. You have to spend at least 183 days out of Maryland and be able to show that you truly are a resident of a different state -- not just a property holder there. If all one had to do was buy property, I think many, many Marylanders would just buy property in Florida, New Hampshire, Nevada, etc. and never set foot there. Sadly, just buying property in and of itself doesn't work to get the Maryland tax man off of your back.

    I fully agree with Mista T on this one...
    Agreed that that's what Maryland does and it stinks, but as I outlined above, there's nothing they can really do. Sure, they can ask you questions, but that doesn't equal enforcement.

    And I am speaking in generalities and may not be doing a good job at it. The 30 for 30 stuff did a good job at explaining it so I encourage you to watch it.

    Take Eli Manning for example. He lives in Hoboken, not NY, for the exact same reason.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  9. #24
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by HoustonRaven View Post
    Take Eli Manning for example. He lives in Hoboken, not NY, for the exact same reason.
    Ha, the Giants don't even live/play in NY.

    Not to turn this into a political debate, but I've just found that the states advertised as being "tax friendly" gouge you in other ways. Delaware comes to mind. No state sales tax but every road seems to have a toll. As for Maryland, I'm not a fan of high taxes like anyone else, but if it can do things like help improve the quality of our roads compared to our neighboring states, it can't be all bad. Look at the condition of the pavement on 83 as soon as you cross the PA line compared to how it looks in MD.




  10. #25
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Losac View Post
    Ha, the Giants don't even live/play in NY.

    Not to turn this into a political debate, but I've just found that the states advertised as being "tax friendly" gouge you in other ways. Delaware comes to mind. No state sales tax but every road seems to have a toll. As for Maryland, I'm not a fan of high taxes like anyone else, but if it can do things like help improve the quality of our roads compared to our neighboring states, it can't be all bad. Look at the condition of the pavement on 83 as soon as you cross the PA line compared to how it looks in MD.
    The corporate taxes are pretty high in Maryland too. Maryland is just a left-wing state where the government wants their hands in every aspect of life. They probably won't get the message by all of the corporations leavings because it always has government jobs.




  11. #26
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Losac View Post
    Ha, the Giants don't even live/play in NY.

    Not to turn this into a political debate, but I've just found that the states advertised as being "tax friendly" gouge you in other ways. Delaware comes to mind. No state sales tax but every road seems to have a toll. As for Maryland, I'm not a fan of high taxes like anyone else, but if it can do things like help improve the quality of our roads compared to our neighboring states, it can't be all bad. Look at the condition of the pavement on 83 as soon as you cross the PA line compared to how it looks in MD.
    I agree that some states are like that where they get you in other ways (FL, TN, etc) but I can say Texas aint one of them.

    Forbes did a study a while back (I can't find it) of total tax burden by state and we were one of the lowest. Here's something that's along those same line ....

    http://taxfoundation.org/article/sta...year-1977-2010
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  12. #27

    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Hammerhead View Post
    Technically, you have to become a resident and there are a series of tests that go into determining if you truly are a resident of you just own property there. Do you vote there? Is your car registered there? Do you have a license in that state? Do you spend more days in that state than in Maryland?

    The state tax officials are onto this sort of thing and it isn't enough just to buy property there. You have to spend at least 183 days out of Maryland and be able to show that you truly are a resident of a different state -- not just a property holder there. If all one had to do was buy property, I think many, many Marylanders would just buy property in Florida, New Hampshire, Nevada, etc. and never set foot there. Sadly, just buying property in and of itself doesn't work to get the Maryland tax man off of your back.

    I fully agree with Mista T on this one...
    I have friends who do not fly into BWI, buy gas & food with cash, avoid toll roads, and otherwise leave no trace of the time they spend in Maryland. They may or may not be skirting the 183 day rule. I have discussed with wife the idea of buying a Delaware condo for a few days per week, stay in Florida for a few weeks in winter, otherwise stay in Maryland for the minimal 180+ days (mostly for Ravens & O's games). Register cars and vote in State income tax-free Florida - it doesn't take a lot to declare Florida as residency to gain its tax advantages. Regretfully, my wife pulls out this feminine logic, that I have never understood, whereby it is more important to be so near the kids & grandkids that she closes her eyes to the financial reality of living in Tax Hell.
    In a 2003 BBC poll that asked Brits to name the "Greatest American Ever", Mr. T came in fourth, behind ML King (3rd), Abe Lincoln (2nd) and Homer Simpson (1st).




  13. #28
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by HoustonRaven View Post
    I agree that some states are like that where they get you in other ways (FL, TN, etc) but I can say Texas aint one of them.

    Forbes did a study a while back (I can't find it) of total tax burden by state and we were one of the lowest. Here's something that's along those same line ....

    http://taxfoundation.org/article/sta...year-1977-2010
    Here is another one, if anyone is interested.

    http://www.economicfreedom.org/2012/...nomic-freedom/
    We are all born ignorant, but one must work hard to remain stupid. - Benjamin Franklin




  14. #29

    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Coastergenius View Post
    The corporate taxes are pretty high in Maryland too. Maryland is just a left-wing state where the government wants their hands in every aspect of life. They probably won't get the message by all of the corporations leavings because it always has government jobs.
    I always find it funny when people say we are a left-wing state or a blue state. It is somewhat misleading, but not inaccurate. If you look at the recent presidential election or most state election, you would find more counties are red than blue. The blue ones just have more overall population.




  15. #30
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    Re: Flacco is "technically" the 2nd-highest paid NFL player when taking into account...

    Quote Originally Posted by Random Thoughts View Post
    I always find it funny when people say we are a left-wing state or a blue state. It is somewhat misleading, but not inaccurate. If you look at the recent presidential election or most state election, you would find more counties are red than blue. The blue ones just have more overall population.
    Right. Thus making it a blue state.

    The left outnumber the right something like 5-1 in MD.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




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