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Short Term Capital Gains Tax While Moving States

I currently live in California and purchased 400 shares of ABC stock on 07/14/2021. If I moved to Florida on 09/01/2021, and sold 300 shares of ABC stock on 09/02/2021, with capital gains of 1.8 million USD, would I still have to pay California state capital gains tax? Florida does not have state income tax where as California has state capital gains tax of 13.3%. I am planning on moving to Florida and am looking at the best way to file my taxes and take advantage of any tax incentives. I know I need to speak with a tax accountant but am curious as to what the general concensus is.

2 Replies
Level 15

Short Term Capital Gains Tax While Moving States

you are taxed in the state you had domicile (your permanent residence) on the date of sale. since FL has no income tax you pay no state income taxes on this sale.


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Level 15

Short Term Capital Gains Tax While Moving States

You MUST change your domicile in full or CA will give you a hard time later.  Change your DL and voter's registration and if you still own property in CA then remove the homestead exemption.  You must remove all ties to CA and file a final part year CA return. 

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