Author Topic: a state income tax coming to Florida at some point?  (Read 985 times)

rob in cal

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a state income tax coming to Florida at some point?
« on: September 25, 2018, 11:00:04 AM »
   With the rise of Andrew Gillum as possibly (likely?) Florida's next governor, a candidate actually supported by national left of center groups, I'm wondering what that means for a possible Florida state income tax.  It doesn't look like Gillum is campaigning for one, but I would think that left/liberal candidates such as Gillum would gradually want to bring discussion about it into state politics over the next few years, using it as a way to bring in more state revenue and also for, hopefully, using it to cut other more regressive taxes.

Kris

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Re: a state income tax coming to Florida at some point?
« Reply #1 on: September 25, 2018, 11:16:16 AM »
I really doubt it, given that the lack of state income tax is part of what draws so many people to live in FL in the first place.

Jrr85

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Re: a state income tax coming to Florida at some point?
« Reply #2 on: September 25, 2018, 11:37:49 AM »
   With the rise of Andrew Gillum as possibly (likely?) Florida's next governor, a candidate actually supported by national left of center groups, I'm wondering what that means for a possible Florida state income tax.  It doesn't look like Gillum is campaigning for one, but I would think that left/liberal candidates such as Gillum would gradually want to bring discussion about it into state politics over the next few years, using it as a way to bring in more state revenue and also for, hopefully, using it to cut other more regressive taxes.

Florida has the luxury of taxing a lot of non-voters, whether they be tourists, second home owners, snow birds, etc. 

So presumably if they decide they want to be a higher tax jurisdiction, they'll try to squeeze those people (more) first.  If they do decide to tax income, I would expect them to exempt retirement income to continue to draw in retirees, or maybe just exempt passive income all together so they continue to attract wealthy people looking to escape higher tax jurisdictions.

accolay

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Re: a state income tax coming to Florida at some point?
« Reply #3 on: September 25, 2018, 05:46:26 PM »
They should probably do it sooner than later considering most of FL will be underwater in a few decades.

GrayGhost

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Re: a state income tax coming to Florida at some point?
« Reply #4 on: September 25, 2018, 05:47:13 PM »
I like Andrew Gillum a lot, and I think he's an important figure in Florida who hopefully makes political discussions there more productive. (Not a fan of DeSantis.)

That said, even though he is a staunch leftist, I think he understands quite well that the economy of Florida is built on tourism and retirees. As Jrr85 has said, if he is wise, he would try and increase the tax burden on tourists and other non-voters before he gives political opponents ammunition against him.

So to put it shortly, it's possible... but it probably won't be the first option.

dmc

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Re: a state income tax coming to Florida at some point?
« Reply #5 on: September 26, 2018, 05:04:20 AM »
I live in Florida and didnít even know we needed a tax increase.  I would be very surprised a state tax would be voted in. 

FL_MM

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Re: a state income tax coming to Florida at some point?
« Reply #6 on: September 26, 2018, 06:00:23 AM »
Our FL state constitution prohibits a state income tax. It would have to be overturned by two thirds of FL voters. This is very unlikely to ever happen and it not even on the ballot.
This is a scare tactic being used by the GOP against Andrew Gillum.

Fomerly known as something

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Re: a state income tax coming to Florida at some point?
« Reply #7 on: October 07, 2018, 07:17:43 PM »
Florida doesn't need and income tax, they tax new people to the state and tourists instead.  My sister, a long time FL resident now was talking about this last week.  There is a significant real estate transfer tax, and a $500 new person vehicle registration tax and extra tax fees to build infrastructure in new subdivisions along with a decent sized sales tax.  My sister specifically mentioned now that she and my BIL have lived in their home for 15+ years they are truly benefiting from FL's screw the "new residents" taxes.

FIPurpose

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Re: a state income tax coming to Florida at some point?
« Reply #8 on: October 07, 2018, 07:29:43 PM »
Florida has had democratic governors through basically the entire 20th century. States like Washington, New Hampshire, and Montana also have had many Democrats and continue to not have any income tax.

As a mustachian, income taxes are easy to avoid. You should pay more attention to property taxes and fees since that's what you'll be paying more of.

DreamFIRE

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Re: a state income tax coming to Florida at some point?
« Reply #9 on: October 07, 2018, 07:57:35 PM »

Don't forget high insurance costs for hurricane, wind, flood insurance - varies with location, more likely to be high in FL.