Part-year residency and tax implications
Florida doesn't have a part-year resident status for income tax purposes due to its lack of state income tax. However, if you're moving to Florida from a state with income tax, you may need to file a part-year resident return in your former state. The specific rules vary, but generally, you'll be taxed on income earned while you were a resident of that state. When establishing residency in Florida, it's crucial to properly document your change of domicile to clearly establish when your residency in the other state ended, potentially saving you significant tax dollars.