Originally Posted by adjusterjack
I'm not quite getting what you are getting at.
If you want to relocate to FL, take up residence, and cut all your ties to IL to avoid IL income tax, that's fine. But before you do that, check out the differences in sales tax levels between IL and FL. I would think that, without an income tax, FL has to get its money from somewhere.
But if you are planning to just manipulate mailing addresses to hide the fact that you still live in IL, well, that's tax fraud and I would caution you against that.
Good advice not to just manipulate the mailing address. I wasn't planning to do that too much
FL sales tax is 6%. IL is 10%. FL gets lots of tourism dollars. IL is very generous with its retired state employees and other state funded programs. IL bonds are right @ junk rating these days. & IMO
IL has very high state income tax & corporate tax.
I know some agents on here do telephone sales & sell in multiple states. I'm guessing they could reside in any state they chose to. Which I'm guessing if they chose EARLY on in their insurance careers it might have helped... 5% is pretty big.
While some agents are mainly F2F & need to be physically present in a certain state. F2F is how I plan to start.
I'm just getting started with insurance & really can live anywhere. Although my two doggies aren't that easily relocated, but it's not like I'll have to have them change high schools. So I'm not really sure best state to work in. Hoping other agents might share experience since I know many work(ed) /lived in multiple states.
If it's close which state I live in, I don't mind going by the letter of the law vs intent of law. My parents are healthy but getting little older, 72 & live in FL. I could conceivably spend 1/3 my time in each IL, IN, & FL. I think requirement is 50% physically present to have residency.
I have heard FL is pretty tough senior market. I'm not sure about IL or IN.
Originally Posted by LostDollar
Or you could move to IN. Get an IN lic and out of state IL and FL lic's and work DM leads as you visit around.
Could be interesting.
Originally Posted by billyb
The seniors in FL are bombarded with mail and phone calls. Tough market. I would stay in IL.
I've heard that. Any ideas how IL compares to other states like IN? i haven't really heard or know statistics/data how to compare.