House vs. Property Taxes In Multiple US States?
- Thread starter Gooby
- Start date
Income taxes in the state in which you officially reside. Property taxes in each state where you have property. Estate taxes upon your death. There is no escape.
not necessarily, some states require you to pay taxes if your income was earned there, regardless where you reside
there is always escape, but it is not necessarily always legal
http://finance.zacks.com/pay-state-income-taxes-based-lived-income-earned-4637.html
If you "earn" in some states besides your state of residence, sometimes you have to pay state income tax in those other states too. You may have to keep track of how much money you earn in each state and file a state income tax return in each. Don't know which states require this separate accounting or whether rental income qualifies. Best check with an accountant.
That's not exactly right. You may have to pay income tax if you were employed in another state, but not if you earned passive income from a rental property in another state. I could be missing some obscure rule, but I'm fairly certain you wouldn't ever have to pay income tax to a state where you are not resident if you're just renting a house there, as long as renting houses isn't your business.not necessarily, some states require you to pay taxes if your income was earned there, regardless where you reside
there is always escape, but it is not necessarily always legal
http://finance.zacks.com/pay-state-income-taxes-based-lived-income-earned-4637.html
it probably depend on the state (s), what is white in Alaska may look black in New York
in New York they tax anything that's moves
if you residie in new york and own a house in florida, which you renting, you may have to pay taxes in florida on that rental income and may (or may not, i believe depending on income) to get partial credit from that taxes, paid to florida, in NY
If the property is in a state without an income tax, you still have to pay NY income tax, on the income, because the income was received while you were a NY resident
in New York they tax anything that's moves
if you residie in new york and own a house in florida, which you renting, you may have to pay taxes in florida on that rental income and may (or may not, i believe depending on income) to get partial credit from that taxes, paid to florida, in NY
If the property is in a state without an income tax, you still have to pay NY income tax, on the income, because the income was received while you were a NY resident
Since FL has no income tax, you wouldn't pay income tax in FL regardless. However even if FL did have income tax you'd still pay your tax on the rental income in NY unless renting houses was a business for you.it probably depend on the state (s), what is white in Alaska may look black in New York
in New York they tax anything that's moves
if you residie in new york and own a house in florida, which you renting, you may have to pay taxes in florida on that rental income and may (or may not, i believe depending on income) to get partial credit from that taxes, paid to florida, in NY
If the property is in a state without an income tax, you still have to pay NY income tax, on the income, because the income was received while you were a NY resident