Florida Tax Residency Essentials for New Luxury Homeowners (Non‑Legal Overview)
Context & What “Residency” Really Means
Florida’s draw for wealth holders is straightforward: no state income tax, homestead protections, and a lifestyle portfolio spanning oceanfront estates and urban penthouses. Yet “Florida residency” is less a form than a body of evidence. States you are departing may apply multifactor tests—time spent, primary home, business interests, and where family and prized possessions live. This is a non‑legal overview to help you prepare thoughtful next steps with your advisors.
Domicile vs. Day Counts
Two pillars typically matter. First is domicile—the place you intend as your true, permanent home. Signal it with concrete moves: purchase or lease a primary residence, move personal items, and update everyday life around Florida. Second is physical presence: many relocating owners target majority‑of‑year day counts in Florida, meticulously logged and corroborated by travel records and transactions. Towers like Baccarat Residences Brickell or Cipriani Residences Miami make it easier to live the majority of your time steps from business services, marinas, and airports.
Paper Trail & Practical Steps
Change your driver’s license and voter registration to Florida, title vehicles here, and open local banking relationships. Apply for homestead on your primary residence when eligible. Update estate planning documents to reflect Florida domicile and revise insurance to match usage patterns. For many, neighborhood selection—Brickell’s walkability, Edgewater’s bay views, or Sunny Isles’ beachfront towers—aligns these practicalities with lifestyle; explore options such as Edition Residences Edgewater or landmark beachfront projects like Armani Residences Miami and Bentley Residences to anchor the move.
Audit‑Proof Habits
Assume you will be asked to substantiate the story your records tell. Keep contemporaneous logs of flights and nights, preserve credit‑card statements that show where you live and spend, and align professional calendars with your Florida base. Re‑site valuable art, vehicles, boats, and collectibles where you claim to live. If you continue to maintain homes elsewhere, reduce the “tethers” that suggest a different primary life: club memberships, storage, and frequent professional services out of state. Above all, coordinate with legal and tax counsel; this is guidance, not advice.
A considered plan can protect both your lifestyle and your audit posture while you enjoy the benefits of Florida living. For discreet introductions to neighborhoods and buildings suited to your residency goals, connect with Million Luxury.
Million Luxury
Million Luxury
Welcome to MILLION, an exclusive luxury real estate boutique nestled in the heart of South Florida’s most desirable locations. Specializing in high-end properties, we provide a sanctuary for discerning clients including top Fortune 500 executives, affluent families, celebrities, and professional athletes from across the globe. At MILLION, we understand the unique demands of our elite clientele and offer a seamless blend of confidentiality and personalized attention. Our commitment to privacy is unwavering; we ensure that every transaction and interaction is handled with the utmost discretion and according to stringent confidentiality protocols. Our concierge service embodies the pinnacle of white-glove care, offering tailored assistance that transcends traditional real estate support.
