What's the best state to live in for tax purposes as a day trader?

[tiddlywinks]

Here's a somewhat dated article from GreenTraderTax which discusses
pros and cons of a few states.

https://greentradertax.com/trader-tax-center/state-local-tax/

 

[Turveyd]

Cyprus

I tried Cyprus last year for a week as looking for retirement place, nice enough to be fair, small mind, not as hot as Tenerife or south of spain in the mid summer to.

Planned to be gone this year, but it's kinda gone, very very wrong for everyone.

 

[Pekelo]

I heard

you hate the cold and the answer is Alaska. Would you move there for saving a few %?

The best state to live in is wherever you are the happiest.

 

[zoned_post_meridiem]

If you make enough for state taxes to become a significant amount you make enough not to worry about state taxes.

 

[wrbtrader]

If you make enough for state taxes to become a significant amount you make enough not to worry about state taxes.

Not true considering there's been a growing exodus of multi-millionaires moving to live in tax havens. Simply, the richer you become...the more concern you become about protecting those riches.

wrbtrader

 

[DarthSidious]

you hate the cold and the answer is Alaska.

Heavens no. Imagine the latency to CME

 

[virtusa]

Monaco. Zero tax, excellent infrastructure and healthcare.
Good climate and the French and Italian Riviera by your feet.

Monaco is situated on the border with Italy. Liguria (the flower Riviera) in Italy. Flat tax rate EUR 100,000 per year and much cheaper than Monaco. Renting a similar house in Monaco is impossible as the flats are piled up on each other. And these flats cost you more in rent than the flat tax fee in Italy. Live is Italy is also much cheaper.

But better wait a few months because at this moment Italy is not such a good place to be.

Just google Liguria and select PICTURES instead of ALL.
https://duckduckgo.com/?q=liguria+italy&t=ffnt&atb=v144-1&ia=images&iax=images

Or Tuscany
https://duckduckgo.com/?t=ffnt&q=tuscany&atb=v144-1&iax=images&ia=images

 

[Atikon]

I tried Cyprus last year for a week as looking for retirement place, nice enough to be fair, small mind, not as hot as Tenerife or south of spain in the mid summer to.

Planned to be gone this year, but it's kinda gone, very very wrong for everyone.

It's pretty nice, you only have to be there for 2 months a year to get a tax break. Noone is going to notice if you sneak of into Turkey fora day or two while you are there

 

[virtusa]

It's pretty nice, you only have to be there for 2 months a year to get a tax break.

If you are suggesting that 2 months a year is enough to pay no taxes anywhere, I am afraid you are completely wrong.

 

[Atikon]

If you are suggesting that 2 months a year is enough to pay no taxes anywhere, I am afraid you are completely wrong.

I think you might want to look into Cyprus a bit deeper before questioning my post mate