I’m joining the military later in life. I’ve sold my house, and I’m bumming it with my parents for a few weeks before going off to BCT.
I’m fortunate enough to have money in an account where a firm is buying and selling stocks regularly, and I pay state income tax on it.
Now that I’m a nomad right before joining, can I go to a state without income tax, become a resident, then claim that state when filing taxes during my military career?
Has anyone ever done this? If so…pls help lol
Does anyone have experience with moving to a more tax-favorable state right before joining the military?
byu/ThrowawayCuzImNervy inMilitaryFinance
Posted by ThrowawayCuzImNervy
3 Comments
You can also just change your residency to a state that is tax free when you get stationed there. My wife and I both changed to TX while I was stationed there and we don’t pay state taxes.
Don’t commit fraud (you have to actually intend to make the state your residence and vote there, etc) but there are a few very military friendly states that you don’t need to physically reside in once you join.
You really trying to commit fraud to save a few bucks? Don’t join military