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I just moved to South Carolina in May 2016 but I lived in North Carolina and I still work in North Carolina. Just wondering the way that I filed my taxes is it accurate
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I just moved to South Carolina in May 2016 but I lived in North Carolina and I still work in North Carolina. Just wondering the way that I filed my taxes is it accurate
You will file part-year NC and Part-year SC tax returns.
NC taxes all you income from 1 jan to May, and then just the W-2 income for the time after that.
SC taxes All your income from May-to-31 Dec, including the NC job income from May-Dec. But SC allows you to take a credit for the taxes you had to pay to NC for the NC wages form May-Dec.
Setting that all up on each state's part-year allocations can get confusing, and you need a month to work on it ..printing, adjusting...printing...adjusting.. etc....for 3 or 4 weeks until you understand that is finally all correct before filing.
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I just moved to South Carolina in May 2016 but I lived in North Carolina and I still work in North Carolina. Just wondering the way that I filed my taxes is it accurate
You will file part-year NC and Part-year SC tax returns.
NC taxes all you income from 1 jan to May, and then just the W-2 income for the time after that.
SC taxes All your income from May-to-31 Dec, including the NC job income from May-Dec. But SC allows you to take a credit for the taxes you had to pay to NC for the NC wages form May-Dec.
Setting that all up on each state's part-year allocations can get confusing, and you need a month to work on it ..printing, adjusting...printing...adjusting.. etc....for 3 or 4 weeks until you understand that is finally all correct before filing.