How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15434
Experience:  15years with H & R Block. Divisional leader, Instructor
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

Hello. I moved from Florida, to Colorado, and plan on only

This answer was rated:

Hello. I moved from Florida, to Colorado, and plan on only living here for 2-3 years. I purchased a home, in Colorado, and my income taxes are taken out of Colorado. I want to know what the tax ramifications are if I keep my Florida tags and drivers license.

Robin D : Hello and thank you for using Just Answer,You are saying you are a Florida resident and not a Colorado resident. Only a resident of Florida can have a driver's lic and a registered vehicle in Florida. You are not allowed to claim a Colorado Homestead exemption on your home.
Customer: Ok, so to make sure I understand you, if I keep my Florida drivers license, but have a home in Colorado, and have income taxes taken out of Colorado, I do not qualify for the colorado homestead right? that would be incentive enough for me to switch to a colorado drivers license.
Robin D : Yes, if you were hoping that the withholding or income tax would not apply that is not so. You are physically working in Colorado so your income is totally taxable to Colorado and as you are there for more than half teh year you are a resident for tax income purposes
Robin D : the homestead exemption is under different rule
Robin D : and to be a resident for that you must have your main home in Colorado
Robin D : and your domicile
Robin D : of which you can only have one
Robin D : The driver's lic and vehicle regis is only for residents domiciled in a state
Customer: my main home and domiclie is colorado. i'm just lazy and don't want to transfer over my florida tags. i don't own a home in florida or any businesses. does that change anything or do i still have to switch my drivers license to colorado to take advantage of the homestead deduction?
Robin D : You are required to change all that
Robin D : Your homestead exemption could be jeopardized
Customer: ok. thank you!
Robin D : Your positive rating is always thanks enough.
Robin D : Did you need something else?
Customer: all good. thank you
Robin D : You are most welcome
Customer: i'll rate you now and pay. thank you!
Robin D. and other Tax Specialists are ready to help you