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Tax haven (or Tax Heaven - Nevada?)
Sac Bee ^ | 1/31/03 | Dale Kasler

Posted on 01/31/2003 10:46:00 AM PST by NormsRevenge

Edited on 04/12/2004 5:47:48 PM PDT by Jim Robinson. [history]

Bob Goff, who moved to Nevada seven years ago, may soon be joined by more Californians who want to escape higher taxes.

INCLINE VILLAGE, Nev. -- Bob Goff made the switch to Nevada seven years ago, leaving behind Silicon Valley for semiretirement in a land of tranquility and natural beauty.


(Excerpt) Read more at sacbee.com ...


TOPICS: Business/Economy; Government; Politics/Elections; US: California; US: Nevada
KEYWORDS: haven; nevada; tax

1 posted on 01/31/2003 10:46:00 AM PST by NormsRevenge
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To: NormsRevenge
Nice view of the lake eh Norm...
2 posted on 01/31/2003 10:52:43 AM PST by kellynla (Once a Marine...House hunting in NV...)
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To: NormsRevenge
On a related note, here in Georgia (with an income tax), I hear radio advertisements for people to incorprate their business in Nevada. Probably for similar tax reasons.
3 posted on 01/31/2003 10:54:55 AM PST by cdefreese
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To: NormsRevenge
Although some will leave, "a small increase in taxes isn't enough for someone to forsake all that California offers and jump over the border," said Davis spokesman Steve Maviglio.

I've got "news" for you, Maviglio, it's just not the taxes that cause Californians to move from the Golden State. It's a lot more than that. Sacramento has become the enemy of jobs, fun and independence. Think about it.

4 posted on 01/31/2003 10:56:43 AM PST by elbucko (You're in Guest mode, which has low functionality (?))
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To: kellynla
One of my old bosses lives in Incline Village. Yes it is a very scenic area. I can hardly wait, myself. How's your househunting doing?
5 posted on 01/31/2003 10:59:59 AM PST by NormsRevenge (Semper Fi)
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To: NormsRevenge
I went to Las Vegas last year for an interview. The offer would have given me a 30% pay increase.

I asked the realtor showing me around why she was driving an 8 year old vehicle, she told me what the annual license fees were. 10X what I pay for a car half the age.

After looking into the other non-tax "taxes", I decided to stay in TX. To live there, at the same lifestyle I enjoy now, I would have needed a 100% pay increase.

6 posted on 01/31/2003 11:02:20 AM PST by Prof Engineer
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To: NormsRevenge
---sorry to pop the bubble, but our RINO governor is leading the pack to "improve" Nevada by raising practically every tax you can think of--
7 posted on 01/31/2003 11:05:25 AM PST by rellimpank
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To: rellimpank
Thanks for bringing that up ... Yes, he is a RINO and Yes, there are tax increases coming in Nevada, and soon, but no Income tax (Yet!). Mexico or Costa Rica is looking pretty good about now too.
8 posted on 01/31/2003 11:16:37 AM PST by NormsRevenge (Semper Fi)
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To: Prof Engineer
It is sad to see that we have lost the opportunities to look elsewhere for greener pastures as you describe.

Almost every state is tied in up in a bureacratic, gordian knot-like, never ending spiral of higher costs for diminished or questionable services with no apparent way to stem the tide of socialism and its associated social engineering.

It is a govt apparatik that a few seize as much power and control as possible and retain power and build on this shaky foundation with more spending for programs that serve no public good , but only feather the nests of those who would seek total control over commerce and public institutions.

9 posted on 01/31/2003 11:26:25 AM PST by NormsRevenge (Semper Fi)
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To: Prof Engineer
The licensing fees in NV aren't high; I know some who tell me it costs just $300 a year to register their Mercedes E Class.
10 posted on 01/31/2003 11:38:46 AM PST by Henrietta
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To: elbucko
Watch out!! After the earthquake in Oakland/SF area, a bunch moved into Denver to "Get Away"......
Well, they got away, and dragged everything that was wrong with California with them.....they CALIFORNICATED the state.

Resist them with all your heart and soul.otherwise what was normal and yours will be "New Age" and theirs...
11 posted on 01/31/2003 11:44:30 AM PST by Bodacious
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To: NormsRevenge
people who, because of California's progressive income tax structure, contribute a major share of the state's revenue.

No, no, no! The rich don't pay taxes! Didn't you know? (/sarcasm)

12 posted on 01/31/2003 11:47:10 AM PST by Lizavetta
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To: NormsRevenge
Progressing along. I located one I like. I will probably make an offer soon but I will continue looking. Wrapping up some loose ends here which will take a couple of weeks.
13 posted on 01/31/2003 11:58:22 AM PST by kellynla (Once a Marine...House hunting in NV...)
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To: Henrietta
The licensing fees in NV aren't high; I know some who tell me it costs just $300 a year to register their Mercedes E Class.

A new car, regardless of value, will cost you about $65 here.

14 posted on 01/31/2003 12:02:31 PM PST by Prof Engineer
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To: NormsRevenge
California (my home) is whistling past the graveyard if they think this trend isn't going to grow. Las vegas is one of the fastest growing cities in America (if not the THE fastest).

My dad and his wife both retired from teaching jobs in California about a year ago, and they were Nevada residents before nightfall. They sold their California home, moved permanently into their Tahoe house, re-registered the cars, registered to vote, and got new drivers licenses. There was no way they were going to let California tax their retirement income.

As more and more boomers retire, they'll follow my dad to Nevada, or move to Texas, or Florida, or other states that don't tax income. Combine that with anti-business policies in Sacramento (and traffic, and high cost of living) and the Golden State has some problems.

But the weather can't be beat.
15 posted on 01/31/2003 12:11:40 PM PST by Earl B.
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To: NormsRevenge
I believe there was a case of a CA man who moved to NV and sold a bunch of stock he had accumulated over the years. There was no question of residency, but CA claimed that the capital gains were realized while he was in CA, so CA should be able to tax it. Nope, they couldn't. But see your tax advisor, etc.
16 posted on 01/31/2003 1:11:04 PM PST by jiggyboy
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To: Prof Engineer
A new car, regardless of value, will cost you about $65 here.

In the sheme of things, saving a couple hundred bucks a year per car on registration fees is small potatoes compared to the tax costs of living in most states. It is probably offset by the cost of airconditioning one's Texas home, compared to keeping cool in a dry high-altitude climate where the normal high temp in the hottest time of the year is about 90F. And the current temperature is over 60F (though that is unusual) under sunny skies.

But I think we would agree that there are few tax reasons to move FROM Texas to anywhere.
17 posted on 01/31/2003 1:16:05 PM PST by Atlas Sneezed
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To: NormsRevenge
How are Nevada registration fees calculated?

Nevada charges a Registration Fee, a Governmental Services Tax and, in some counties, a Supplemental Governmental Services Tax. The basic Registration Fee for passenger cars, trucks and motorcycles under 6,000 pounds is $33.00. Trailers under 1,000 pounds are $12.00. There are graduated scales based on weight for larger vehicles.

The annual amount of the Governmental Services Tax is 4 cents on each $1.00 of the DMV valuation of the vehicle. Governmental Services Taxes fund local governments and school districts.

The DMV valuation of a vehicle is 35% of the depreciated MSRP (Manufacturers Suggested Retail Price). The MSRP is depreciated 15% after the first year and 10% per year thereafter. There is a minimum valuation of 5% of MSRP and a minimum Governmental Services Tax of $6.00. MSRP is set when the vehicle is new and will not change over time.

Supplemental Governmental Services Tax is 1 cent on each $1.00 of valuation. This is a voter-approved tax used for highway construction in the counties which charge it: currently Clark, Washoe and Churchill. There are other factors which determine the final cost of registering a vehicle. The fee for a Nevada title is $20 and there are small charges for items such as license plates. Sales taxes ranging from 5% to 7.25% are charged on vehicle purchases. Sales taxes are paid to Nevada dealers on dealer sales. DMV collects sales taxes on private party sales.

Sample Governmental Services Tax Calculation

Vehicle 1 year old with an original Manufacturers Suggested Retail Price of $12,500.

$12,500.00 x .85 Vehicle MSRP depreciated 15% after first year $10,625.00 x .35 DMV valuation is 35% of depreciated MSRP $3,718.75 x .04 Governmental services tax is 4% of valuation $148.75

Governmental services tax will be $149 after rounding.

That adds up to $182 for a one year old, subcompact car. It also adds up to $628 for a one year old, $50,000 SUV.

18 posted on 01/31/2003 7:09:52 PM PST by Amerigomag
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