The No-Brainer ERE State = Alaska

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NYC ERE
Posts: 433
Joined: Mon Aug 02, 2010 8:03 pm

Post by NYC ERE »

I just hosted some cyclists who live in the backwoods of Alaska. The dividend from oil revenues is given to every resident of Alaska, which is defined as anyone who's been there for more than a year, REGARDLESS OF AGE. In recent years the dividend has ranged, anecdotally, $1,100-1,700 per year. In other words, Alaska will fund your living expenses, if they're similar to Jacob's, for two months out of the year.
I don't know if perhaps there's an exception for people earning much less than the average worker, but I seriously doubt it--my guests have a low income, as do a lot of the Native Alaskans.
Another caveat would be that you'll be spending a lot more on heating.


JohnnyH
Posts: 2005
Joined: Thu Jul 22, 2010 6:00 pm
Location: Rockies

Post by JohnnyH »

Pretty cool... Also, no state income tax! I wonder if it'd be possible to setup residency and then go live wherever (ala SD in some other thread).
http://www.pfd.state.ak.us/faqs/index.aspx#

Eligibility for a Dividend
*What are the eligibility requirements for the dividend program?

To be eligible for a PFD, you must have been an Alaska resident for the entire calendar year preceding the date you apply for a dividend and intend to remain an Alaska resident indefinitely at the time you apply for a dividend. There are other criteria for eligibility under Alaska Statute 43.23.005 and AS 43.23.008.
More on residency:

http://www.pfd.state.ak.us/eligibility/ ... dency.aspx

Proof of establishing residency and the intent to remain indefinitely in Alaska may include the following:
* a contract to move household goods to Alaska dated prior to the qualifying year. (Employer paid moving contracts are not an acceptable tie).

* proof of home ownership, a home purchase contract, rent receipts, or other proof that the individual maintains a principal home in Alaska. (Employer paid housing is not an acceptable tie).

* employment and unemployment records.

* school records;

* voter registration and voting records;

* motor vehicle registration records;

* licensing records such as those for hunting and fishing licenses;

* court or other government agency records

____________________________

Cost of living and housing is really high there. Utilities, too... unless you cut your own wood.
Transportation and isolation would be other big factors. Still, something to think about for the adventurous! ;)


Q
Posts: 348
Joined: Thu Jul 22, 2010 8:58 pm

Post by Q »

Depends on how they count residency really. Can you 5 flags there so to speak? Would it be a good "home base" tax wise. What about boating?
I love watching Deadliest Catch on TV, but I dunno about trying to get out of some of those waters. I guess cruise ships do, but they are massive!
ERE friendly to me is - no income or dividend tax, low property tax, accessible to harbors and beaches. etc.


JohnnyH
Posts: 2005
Joined: Thu Jul 22, 2010 6:00 pm
Location: Rockies

Post by JohnnyH »

LOL, I can imagine docking your boat would get stressful with some of the extreme tides.

Looks like AK is allowing up to 180 days of absence for purposes of dividend (seems like it would be prorated). Unless you're one of the following (not likely)

1. receiving secondary or postsecondary education on a full-time basis;

2. receiving vocational, professional, or other specific education on a full-time basis for which, as determined by the Alaska Commission on Postsecondary Education, a comparable program is not reasonably available in the state;

3. serving on active duty as a member of the armed forces of the United States or accompanying, as that individual's spouse, minor dependent, disabled dependent, an individual who is

1. serving on active duty as a member of the armed forces of the United States; and

2. eligible for a current year dividend.

4. serving under foreign or coastal articles of employment aboard an oceangoing vessel of the U.S. merchant marine;

5. receiving continuous medical treatment recommended by a licensed physician or convalescing as recommended by the physician that treated the illness if the treatment or convalescence is not based on a need for climatic change;

6. providing care for your parent, spouse, sibling, child, or stepchild with a critical life-threatening illness whose treatment plan as recommended by the attending physician, requires travel outside the state for treatment at a medical specialty complex;

7. providing care for your terminally ill family member;

8. settling the estate of your deceased parent, spouse, sibling, child or stepchild provided the absence does not exceed 220 cumulative days;

9. serving as a member of the United States Congress;

10. serving on the staff of a member from this state of the United States Congress;

11. serving as an employee of the state in a field office or other location; ,

12. accompanying a minor who is absent under reason (5) above;

13. accompanying another eligible resident who is absent for reasons (1), (2), (5)-(12) as the spouse, minor dependent, or disabled dependent of the eligible resident:

14. serving as a volunteer in the federal peace corps program.

15. training or competing as a member of the United States Olympic Team.


Matthew
Posts: 391
Joined: Thu Jul 22, 2010 6:58 pm

Post by Matthew »

All you are saying is true...but this. I went there for vacation two years ago. Gas is actually MORE expensive than in the states. Damn right it is more expensive to heat. Not to mention the periods of mostly darkness (or daylight).


Concojones
Posts: 117
Joined: Fri Jul 23, 2010 6:57 am

Post by Concojones »

If the cost of living is higher (google...), it's not worth it. Anyway, you can always live outside AK without notifying the AK authorities.


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