- quote -

imagine me doing the happy dance here! Bad enough to have
to pay my lovely state of Georgia. I sure didn't want to
have to pay Florida. <G
Carol
What can one expect of a day that begins with getting out of bed.

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- quote -

None of those. All taxes and HOA fees were paid before the
contract was signed.

Carol
What can one expect of a day that begins with getting out of bed.

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- quote -

LOL. Yes, Harland, that is what I said. They do have a net
worth type tax and I thought our property profit might fall
into that category. Happily, after a little research I
found out we owe no tax to Florida for this. I remember
when I was doing research for a move to Florida that they do
have some types of "income" taxes and we had decided not to
be incorporated if we moved there.

However, we do owe that regular 6% to Georgia. Guess I'll
send them a check between now and Wednesday afternoon.

Carol
What can one expect of a day that begins with getting out of bed.

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There is no Florida state tax on personal income. Period.

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"CLJ1219" <clj1219[at]aol.comnospam> wrote:

- quote -

Only if you are a C-Corp.

Any other applicable taxes should have been on the closing.

--
Richard A Macdonald, CPA(FL)/EA
Dedicated student of Fr Luca Paccioli, Master Juggler.
Gib mir schokolade und niemand wird verletzt!!

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Carol posted:

- quote -

There is no tax on income earned in the state of FL. Of
course, outstanding real estate taxes would be handled as a
part of the settlement process, so -- unless you were
operating a business in FL --I can't imagine any *state* tax
consequence. (No income tax means no tax on capital gains.)

Bill

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CLJ1219 wrote:

- quote -

Did not you just say Florida has no income tax? (scratching
my head, cleaning my glasses....)

Bad news is that you will still Georgia! lol
But you knew that.

Christmas Cheer$,
Harlan Lunsford

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I'd just research this at work but we won't be there until
next week. Probably someone here knows the answer.

My husband and I just sold some real estate in Florida. I
know Florida has no personal income tax but will this
capital gain be subject to tax in Florida?

Thank you for your answer.

Carol

What can one expect of a day that begins with getting out of bed.

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