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Old 04-04-2012, 10:18 AM
 
1,343 posts, read 3,326,339 times
Reputation: 981

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Maybe if I was making big bucks and paying lots of taxes the state portion wouldn't seem so large, but now I am a low income type of person and it's amazing how many breaks the Feds give that the state does not.

Last year I had a small refund from the Feds that was just about equal to the amount I had to pay NC. This year I owe nothing to the Feds, but owe a chunk to the state. I think it was the education credit that reduced my federal income taxes but the state was having none of that.
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Old 04-04-2012, 11:18 AM
 
Location: Blue Ridge Mtns of NC
5,660 posts, read 26,956,941 times
Reputation: 3858
Top ten states with the highest individual income tax:

1. California
2. New York
3. New Jersey
4. Vermont
5. Maryland
6. Wisconsin
7. Minnesota
8. North Carolina
9. Ohio
10. Hawaii

Tax Foundation
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Old 04-04-2012, 11:41 AM
 
Location: Raleigh, NC
10,728 posts, read 22,772,566 times
Reputation: 12325
Quote:
Originally Posted by XcapefromNJ View Post
Maybe if I was making big bucks and paying lots of taxes the state portion wouldn't seem so large, but now I am a low income type of person and it's amazing how many breaks the Feds give that the state does not.

Last year I had a small refund from the Feds that was just about equal to the amount I had to pay NC. This year I owe nothing to the Feds, but owe a chunk to the state. I think it was the education credit that reduced my federal income taxes but the state was having none of that.
But I thought the "lower taxes" were why so many of you from Jersey were coming here by the thousands in the first place? Perhaps you didn't fully do your research?

I'm not sure what the point of your post is.
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Old 04-04-2012, 12:22 PM
 
Location: Winston-Salem
4,218 posts, read 8,502,969 times
Reputation: 4488
Quote:
Originally Posted by XcapefromNJ View Post
Maybe if I was making big bucks and paying lots of taxes the state portion wouldn't seem so large, but now I am a low income type of person and it's amazing how many breaks the Feds give that the state does not.

Last year I had a small refund from the Feds that was just about equal to the amount I had to pay NC. This year I owe nothing to the Feds, but owe a chunk to the state. I think it was the education credit that reduced my federal income taxes but the state was having none of that.
What kind property taxes were you in paying in NJ vs. NC?

Income tax is only one piece of the total cost-of-living pie.
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Old 04-04-2012, 01:14 PM
 
2,668 posts, read 7,140,200 times
Reputation: 3570
^ Yep, the NC local and state tax burden, as calculated by the tax foundation, is the same as the U.S. average. There's really nothing to complain about here.
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Old 04-04-2012, 04:51 PM
 
Location: NC
9,984 posts, read 10,372,729 times
Reputation: 3086
Quote:
Originally Posted by XcapefromNJ View Post
Maybe if I was making big bucks and paying lots of taxes the state portion wouldn't seem so large, but now I am a low income type of person and it's amazing how many breaks the Feds give that the state does not.

Last year I had a small refund from the Feds that was just about equal to the amount I had to pay NC. This year I owe nothing to the Feds, but owe a chunk to the state. I think it was the education credit that reduced my federal income taxes but the state was having none of that.
The state needs money.
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Old 04-05-2012, 09:29 AM
 
Location: Durham, NC
3,576 posts, read 10,629,204 times
Reputation: 2289
I was unemployed for most of 2011. I still owe over $300 federal and $900 state. Don't exactly know where they expect me to get that much actual cash from.
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Old 04-06-2012, 12:54 AM
 
Location: Sol System
1,497 posts, read 3,342,789 times
Reputation: 1043
Don't even get me started about the 'state'. They took my federal refund this year , as far as I'm concerned , the whole lot of them are full of s#!t.
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Old 04-06-2012, 08:10 AM
 
Location: Charlotte, NC
1,969 posts, read 3,586,191 times
Reputation: 2916
Nobody escapes taxes, regardless of where you move. They just shift where they come from in different places. Personally, i don't mind paying taxes, as long as they aren't going to waste. If my taxes mean that the roads are properly paved, the parks are well mantained, schools are properly funded, ect, then I don't mind paying my fair share. Whether or not that happens...
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Old 04-06-2012, 01:45 PM
 
Location: Salisbury,NC
16,757 posts, read 8,177,783 times
Reputation: 8532
The biggest issue is you need to have your deductions correct for the state withholding. The biggest reason to escape NJ is the property taxes are crazy. 4yrs. ago a home with a tax value of $85,000 carried a tax bill of $8000 in the town I lived in. Moving to NC brought down taxes to $1900 with a tax value of $290,000
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