Carl S. Rosen partner with Nelson Mullins Riley & Scarborough In Fla. You Can Avoid State-Level Estate Taxes, but You Have to Follow the Rules
If you have moved to Florida from another state and wish to eliminate (or reduce) the state level estate death tax from the prior state, you must ensure not only that you are domiciled in Florida, but that you have relinquished your domicile in the state of your prior residence.
August 17, 2021 at 09:02 AM
5 minute read
The migration to Florida has increased in the wake of the pandemic, particularly as executives and retirees have become more comfortable with technology and remote work. When they realize you can avoid cold weather while avoiding higher taxes, the appeal grows. New residents can realize significant tax savings now and in the future if they plan for it. For instance, the State of Florida has not imposed a state-level estate tax since 2004. This is in sharp contrast to many other states that impose their own level of estate tax, which is in addition to the federal estate tax. If you have moved to Florida from another state and wish to eliminate (or reduce) the state level estate death tax from the prior state, you must ensure not only that you are domiciled in Florida, but that you have relinquished your domicile in the state of your prior residence.
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