Demonio
Jan 29, 2011, 9:33 AM
Post #1 of 4
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I no longer consider myself a resident of California - CA (moved to MX July 2009 and to a second home in NV July 2010) and wonder how I go about not having to pay CA state income tax (approximately $8K per year) on my pension income? I'm in MX on an FM3 and have a Jalisco driver's license. The problem (or not - don't know) is that while no longer a resident of CA, I still have a presence there because of real and personal property. Below are some of the details and would appreciate any insight from those who have been there done that (successfully ended residency in a income tax state).
I have homes in MX, NV (both leased) and CA (owned). My lease in MX covers all of 2010 and in NV (a no income tax state) for the last six months of 2010. I did a "strategic walk-away" (stopped paying the mortgage) on the CA home two years ago, since it's no longer worth what I owe (figured losing $250K was enough! - which BTW can't even be claimed as a capital loss). My girlfriend and her minor children live there (rent free) while my realtor tries to unload it for me as a "short sale". I stay with them when I travel to CA to visit family and friends, and still receive mail there. I own two cars and a motorcycle. One vehicle is registered in SD and the others in CA. All three show garaged in CA for insurance purposes, since I still have a CA driver's license, but not one in NV yet.
What do you guys think - am I clear or not? TIA
"What we've got here is a failure to communicate."
(This post was edited by Demonio on Jan 29, 2011, 10:29 AM)
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