We plan on moving from New York to India (Bangalore) permanently in the next 18 months hopefully with partial FIRE. I have the usual accounts many in this community have, like vanguard brokerage & IRA accounts. I also have my work 401k at Fido. I plan to open a virtual mailbox like traveling mailbox (TM) in 0% state like Florida before I move to India. My only relative is in Maryland and was thinking of giving his address in case some financial institution flags TM’s address and ask for a proper residential address. I wasn’t planning on legally establishing residency in any other state.
I had three questions.
1. When I move to India, for taxation purposes (I’ll still get dividends from vanguard), which state would I pay taxes; NY, MD or FL?
2. I know just having a virtual mailbox at 0% state tax state like Florida doesn’t guarantee residency. So in order to get the tax benefits of FL, should I legally establish residency at FL? – This is not my preferred choice, but the tax benefits could force me to take this route.
3. If I don’t legally change my residency from NY and open a TM address based in NY, but give my relative’s address in MD as an emergency residential address, will I pay NY state taxes? - This is my preferred choice since this involves least work from my side. :)
Any advise on the best strategy for my situation would immensely help.
Expert help from this community is greatly appreciated.