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URL:  http://boards.fool.com/ca-state-taxes-and-cruising-lifestyle-25155636.aspx

Subject:  CA state taxes and cruising lifestyle? Date:  2/10/2007  2:51 AM
Author:  LeftCoastJayhawk Number:  91977 of 127613

Well, as I continue to enjoy the sailing lessons I've started taking, I start dreaming of a lifestyle of live aboard cruising to distant shores. Lazy days at anchor off Bora Bora and all that.

So a cruising sailboat (or maybe a trawler yacht) becomes our permanent residence, with maybe only a few days each year spent in a California house, do we escape Californa income taxes on my corporate pension, stock sales (CA treats capital gains as ordinary income - at 9.3% ouch!), and Social Security?

Anyone know what the world sailor with a little used second home in California needs to do to legally avoid the clutches of the Franchise Tax Board? Would a PO box in Papeete be necessary? Could one still maintain a second home in El Segundo?

--Leftcoastjayhawk (who is still trying to figure how how to pay for such a yacht - reduced taxes would help - a little...:-)
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