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Tax question: which state do I pay

T

Titan

Golden Member
It's never too early for a tax thread...

I lived in NY until August 1st this year when I moved back to VT, but I believe my taxes were taken out for NY.

I am wondering how do I claim residency for which? I know VT has a lower income tax so I would like to get the correct amount back. Is it a straight 5/7 split? I have no idea where to look and find out.

Should I just bite the bullet and take it to an accountant this year?
 
I believe you pay NY tax for the first 7 months u were there, then VT tax the rest of the year... i.e. you need to file 2 state tax returns in addition to ur federal one
 
There will be formulas used, to pro-rate your taxes owed to each state. Each states form should explain this in detail.

I was in a similiar situation when I got out of the military a few years ago. Basically.. I got out in April. and at that point, my "home state" no longer is my home of residence, and in turn, Maryland becomes my state of residence. I had to compute the pro-rated taxes that are owed from April through the end of the year.

 
Originally posted by: Titan
I lived in NY until August 1st this year when I moved back to VT, but I believe my taxes were taken out for NY.

I am wondering how do I claim residency for which? I know VT has a lower income tax so I would like to get the correct amount back. Is it a straight 5/7 split? I have no idea where to look and find out.
Click to expand...
Did you file a change of address promptly with your employer? If you did, your W2 should have separate items for NY and VT withholding. If not, I'm not sure that you can correct this oversight at the time of filing (a question for the Tax thread?). I think that the smallest discrete unit is a single paycheck, i.e. you'd add up the paychecks earned while in NY separately from VT; semi-monthly is easy - it would be very close to the 5/7 split, assuming no change in base pay and no overtime, bi-weekly would be a little harder.
 
Did you work in two states?
Do you normally item deductions?

It's really not that hard to do. I did it for 1999 and it was pretty easy.
 
Originally posted by: tfinch2
And there is a dedicated tax thread.
Click to expand...
That thread is specifically NOT for state tax questions. There is just no way all states and federal taxes can be covered in one thread.

 
2 returns. I had to do 2 for when I lived in Virginia and was taxed for Maryland. I had to file a return with Maryland to get all of my money back and then file with Virginia and pay my whole tax bill.

This year, I moved to Maryland from Virginia near the beginning of the year so I'll have to file 2 returns (part year resident form).
 
Originally posted by: BCYL
I believe you pay NY tax for the first 7 months u were there, then VT tax the rest of the year... i.e. you need to file 2 state tax returns in addition to ur federal one
Click to expand...
correct. I did something similar a few years back. You writ q big check to one state and wait a long time for a small one from the other state... :|
 
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