11-16-2005, 07:23 PM | #1 | ||
Grizzled Veteran
Join Date: Nov 2003
Location: MA
|
OT: Quick Tax Question
Disclaimer: I started working at my current job in February, and never looked at the breakdown of my paycheck until today. That should just about tell you the level I'm at with anything regarding finance.
So I live in Connecticut and I work in Rhode Island. Checking out my stub today I noticed that I pay a state income tax for both RI and CT, RI being significantly larger. Now I have a co-worker(who'll sometimes BS an answer, hence this thread), who says I only have to pay for CT and I should get everything I paid to RI refunded. He then says I should ask my tax expert, which unfortunately for me is my locally installed copy of Turbo Tax. So I figured I'd try it here. Paying income tax for two states, normal or not? |
||
11-16-2005, 07:31 PM | #2 |
Grizzled Veteran
Join Date: May 2003
Location: Ashburn, VA
|
Unfortunately the question may have to be asked of a tax expert.
I know for some states, there is reciprocity. For example, when my sister was a student at Franklin & Marshall (in Pennsylvania) she earned income there, but also earned income in the state of Maryland (where my folks live/where she lived in the summers). She ended up having to file in both states (which I assume you'll have to do) and one state gave back all the money that was deducted since she had paid state taxes in the other state. You may ask your HR person. Especially if there are other employees in the company who live in one state and work there (in a different state), they might know... Usually you end up getting the money refunded, in the circumstances I've seen. I don't know how that holds for CT & RI, though. /tk
__________________
GO TERPS! https://www.flickr.com/photos/terpkristin https://twitter.com/terpkristin |
11-16-2005, 08:26 PM | #3 |
Grizzled Veteran
Join Date: Nov 2003
Location: MA
|
Thanks for the answer, I'll shoot an email to HR.
|
11-16-2005, 09:05 PM | #4 |
Head Coach
Join Date: Oct 2000
Location: NYC
|
Paying taxes for both states is normal.
|
11-16-2005, 09:10 PM | #5 |
Banned
Join Date: Feb 2003
Location: Exton, PA
|
You'll get a credit on your home state return though.
It's complete crap, a real cash flow killer. |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
Thread Tools | |
|
|