Naples, FL asked in Bankruptcy and Tax Law for Florida

Q: If NC becomes my primary residence is my home protected in bankruptcy court? What is the state income tax??

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2 Lawyer Answers
Timothy Denison
Timothy Denison
Answered
  • Bankruptcy Lawyer
  • Louisville, KY

A: Yes. 5.25%

David Luther Woodward
David Luther Woodward
Answered
  • Bankruptcy Lawyer
  • Pensacola, FL
  • Licensed in Florida

A: YOu need to direct these questions to a bankruptcy/tax lawyer in Carolina. You can't claim two homesteads/residences/state citizenships at the same time. If you claim Carolina you will lose your homestead/constitutional exemptions in Florida which are significant.

In point of fact, Florida and Texas are the most generous on homestead exemptions

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