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I recently moved to Fort Mill and am starting the job search. My main question, is there a difference in the tax between NC and SC as far as income goes? Is there a difference in working in NC than in SC if I live in SC? Thanks.
Last edited by Randomhero849; 11-28-2008 at 09:22 PM..
You'll have to file two tax returns, one in NC as a non-resident and one in SC as a resident. Your income from the job in NC is reported to NC, and all income sources are reported to SC. SC will give you a credit for income tax paid to another state.
I know when we were considering moving here, our accountant ran our income in 2006 on both a NC and SC form. One reason we decided to move to SC was that we would have owed $700 more in NC! So, I think you are better off living in SC.
I am not sure what happens when you work in NC and live in SC. I know there are a lot of questions and replies about this on this forum. Try doing a search for this issue (the search tool is on the menu bar in the forum). I can't imagine you paying tax in both states.
By the way, the property taxes are lower in SC than in NC also.
I live in SC and work in NC. My co workers that are in the same situation told me they file a return with NC as a non resident, get all their money back, then file with SC and pay them before the deadline. They come out way ahead and end up with money in their pocket, as NC is higher (top Southern State for state tax btw).
Where I originally lived did not allow this. But every state is different.
I live in SC and work in NC. My co workers that are in the same situation told me they file a return with NC as a non resident, get all their money back, then file with SC and pay them before the deadline. They come out way ahead and end up with money in their pocket, as NC is higher (top Southern State for state tax btw).
You pay taxes in the state you work.
If you work in NC, you will owe NC taxes no matter where you live. You won't have to pay SC taxes since NC rates are higher, but you won't be getting all your NC taxes back.
Does being a federal employee make a difference? I put in for a transfer to Charlotte and don't see much of a difference between living in NC or SC (as a renter) other than the fact SC doesn't have vehicle inspections/emissions. If I'm working in Charlotte, but living in SC, I'm still paying higher NC state taxes, right? Then what (if any) are the benefits of living in SC vs NC?
Income tax may not necessarily be lower in SC as we ended up owing SC money this year. Husband works in NC and we live in SC. But I do know that property taxes and vehicle taxes will most likely be less expensive. Your insurance probably will be as well and county taxes are cheaper. I have lived in NC before and I find SC to be much less expensive on a daily basis.
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