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State tax filing
Because the maximum credit you can get is whatever that income would be taxed in KS. So, if MO's tax on your income is $2,710 and KS tax on the income is $2,500, then the maximum credit you would be able to get would be $2,500. The credit for taxes paid to another state is limited to the amount that the resident state would charge you if they were taxing that income.
So the opposite could happen as well. If MO taxed your income at $2,000 but KS wanted to tax that income at $2,500, then you would get a credit of $2,000 and still have to pay KS $500.
Basically, whichever state taxes you the most, that is the tax you will end up paying, either to one state or combined between the 2 states.
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March 5, 2024
7:24 AM