Let’s start by discussing residency. Dual residency is permitted in Idaho, thus you are free to call both states your home. To benefit from the state’s tax advantages, such as the homeowner’s exemption, which can reduce your property taxes, you must establish Idaho as your principal residence. You must demonstrate that you have a physical presence in the state, such as a home, employment, or bank account, in order to prove your residency in Idaho. In relation to taxes, Idaho does grant credit for money spent on taxes for another state. This implies that you won’t pay two taxes on your income if you work in Idaho but reside in a nearby state. However, you’ll have to submit a nonresident tax return and pay taxes in Idaho on any income you get there.
Let’s now discuss how life is in Idaho. Idaho is a haven for outdoor enthusiasts. In addition to several lakes, rivers, and mountains, the state is home to a number of national parks and forests, including Yellowstone and Grand Teton. As a result, there are a ton of activities available, including hiking, camping, fishing, skiing, and whitewater rafting.
Boise is Idaho’s capitol and biggest city in terms of population. It boasts a little over 200,000 residents and is renowned for its lively downtown, which is home to many eateries, pubs, and stores. The city is home to a bustling arts and entertainment scene that includes a wide variety of theaters, galleries, and museums.
For people who enjoy the great outdoors and welcoming communities, Idaho is a state that offers a good quality of life. It is unquestionably worth taking into consideration as your new home due to its dual residence policy, tax advantages, and abundance of outdoor activities.