permanent home or principal establishment of an individual. residence is not the same as domicile, since a person can have many transient residences but only one legal domicile, which is the home address to which he always intends to return for prolonged periods. The domicile of a business is the address where the establishment is maintained or where the governing power of the enterprise is exercised. For purposes of taxation, it is often a principal place of business.
place where a person has established permanent residence. It is important to establish a domicile for the purpose of filing state and local income taxes, and for filing estate taxes upon death. The domicile is created based on obtaining a driver's license, registering to vote, and having a permanent home to which one returns. Usually, one must be a resident in a state for at least six months of the year to establish a domicile.
state in which an insurance company has its principal legal residence; where an individual resides in a fixed permanent home.
the place in which one makes his or her principal residence.
Example: Mason's job requires her to travel throughout the United States. Although she owns property in several states, Mason's domicile is New York, where she has her principal residence. Mason is subject to the laws of New York concerning automobile registration, voting rights, payment of taxes, and other matters.
