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Old 12-21-2008, 02:48 PM
 
Location: West Melbourne, FL
161 posts, read 203,075 times
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Does anyone know any advantage to living in say OH but income in WV? I see lots of people live in OH but work in Huntington area. There is probably no advantage income tax wise or perhaps a negative advantage, but perhaps somebody has looked into it. There is also RE tax.

I might have a small company of my own (a potential LLC I could file in OH or WV) so not sure which state taxes small companies worse or if there is any type of tax on a pass through entity like a LLC in either state. Thanks for any tips.
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Old 12-21-2008, 03:35 PM
 
Location: Charleston, WV
3,105 posts, read 4,796,164 times
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Hmm, don't know. Hope someone can help. Have heard about people crossing the bridge from WV to Ohio to buy gas and cigarettes. I imagine part of the price difference may be taxes added onto the products.
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Old 12-21-2008, 08:13 PM
 
Location: Huntington, WV
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Here's a very good breakdown of the tax structure of both WV and OH:

The Tax Foundation - Tax Research Areas > West Virginia

The Tax Foundation - Tax Research Areas > Ohio

The issue with a lot of people is that they see personal property taxes on cars and the fact that they have to have their cars inspected each year so they automatically assume taxes are cheaper in OH. Taxes on your car are based on value in WV and thus decrease every year. An inspection sticker does have to be obtained yearly and costs a whopping $10. People often don't consider the rest of the tax structure though as property taxes in OH are higher and they also have one of the highest state/local tax burdens in the nation. Combine this with the fact that if you live in OH, you'll have a decent drive to get to anything you need so you'll also spend more in gas. Also, if you live in Huntington city limits, you get a pretty significant discount on your yearly home owner's insurance due to professional police and fire fighter services.

So for convenience and general savings, you'd be better off living in Huntington. Hope this helps. Let me know if you need anything else or if there's any specific questions you have about the area. I'll do my best to help you.

Tim
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