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retirement residency

I currently work and paid in WV and have a second home in South Carolina.  Can i change residency to SC while drawing a paycheck from WV.  Do i file taxes in WV or SC?  Tax wise, which state would be beneficial to file in?

Also, which is better regarding SS payments and retirement withdrawls?

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4 Replies

retirement residency

you pay state income tax to the state where you WORK and where you LIVE. 

 

as long as you are working in WV, that is where you pay income tax to.  

 

If you decide to move to SC, then things change.  Simply owning a 2nd home in SC doesn't mean much. 

retirement residency

 

Your other question:

"Also, which is better regarding SS payments and retirement withdrawals?"  

 

 

Neither WV nor SC tax Social Security benefits.  Both states tax other sorts of retirement income; we do not have any details from you about the retirement income you will be receiving.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

retirement residency

in SC, beyond social security not being taxable, military pensions and the first $15,000 of private pensions are not taxable either.  it is a "friendly" state for retirees.  

TomD8
Level 15

retirement residency

You can't just pick and choose which state to file in.  You must follow the laws of each state.  For example, if your main, permanent home (your domicile in tax terminology) is in WV, then for tax purposes you are a resident of WV and you must file a resident WV return.  And SC will not consider you a resident if your main, permanent home is in another state.  This video from the SC Dept. of Revenue may help explain:

https://youtu.be/kc51Lxn2riE?si=bNwypKZIVfYibXJv

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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