Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-20-2019, 03:42 PM
Junior Member
 
Join Date: Jan 2019
Posts: 1
Taxed in 2 States?

Myself & wife are both retired from Calif. PERS, both receive SS & I also retired Military. We moved from Calif. to NC. Both of our retirement $$$ are from Calif. only and I fed. mil. retirement. We have no earned income from NC, only retirement from CA. Our CPA states that we have to split our tax between CA & NC. We usually receive a refund from CA. and have to pay yearly to NC (why?) and usually get a small refund from Federal. Any help is appreciated. TY JohnM. in ILM/NC.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 01-22-2019, 03:40 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
say, you retire and move from CA to NC in the mid year I mean say, in June, then, you may be considered a partial resident of both statesof CA nd NC and be required to file returns and pay taxes in both states in the year you move. Some states also require part year residents to pay income tax on retirement income earned in the state, even if they live part of the year in another state. While the stateof CAm where you earned your retirement incom may not tax on it, you may still have to pay taxes on the income in your state of residency , NC. For example,say, if you earn a pension in CA, then move to NC the state of NC may require you to pay taxes on this income. Tax rules on retirement income vary significantly by state. Many other states also allow partial exemptions or special rules for pension income.You need to Check with your NC state tax department to learn about specific rules in your state



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
First check taxed at 35% is this right TaxesHurt Income 0 06-03-2009 11:55 AM
LLC Taxed as S-Corp in NJ pabuwal Limited Liability Company 0 01-24-2009 06:33 PM
Can you get taxed on an interview? bmflattm C-Corporation 2 05-30-2008 11:03 AM
Llc Taxed As A C Corp fillgoto Limited Liability Company 1 06-30-2007 01:40 PM
How are LLC' s taxed? bpcombs Limited Liability Company 1 02-19-2007 11:56 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.