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Also, I don't think it is about leaving NY is a bad idea, but that there are pros and cons to anywhere and that there are things to consider about other places. That's all.
For your information, being self employed I have an account that is in New York, yet I live in Arizona. I have to pay income taxes to the State of New York. A state that I no longer live in, receive any services from, and can no longer vote there. Ever hear of taxation without representation?
You must be receiving very poor tax advice in Arizona if you are paying New York state income tax without living here.
[quote=JSmith11;34457585]You must be receiving very poor tax advice in Arizona if you are paying New York state income tax without living here.[/Q
Did you ever think the reason he kept his business accountant back in NY was because he always had good communication for years when he did live in NY? OMG it was probably his accountant that advised him to leave NYS if he didn't want to lose his business and everything he's worked for. His accountant probably remains living in NY because more work for accountants because more businesses are struggling there. If I owned a business in NY and my accountant gave me advice to leave and start a business else where I'd keep that accountant back in NY too. So don't just assume he couldn't find a good accountant in any other state other than NYS.
"You must be receiving very poor tax advice in Arizona if you are paying New York state income tax without living here."
You are 100% incorrect, if you live out of state and derive an income from any business that resides in any state which has an income tax you must pay an income tax to that state from which that income was generated. The form is called a "Non resident income tax". Look it up! If I had an account in a dozen or so states that have an income tax I would have to file a "non resident income tax form" for each and every state that I do business in and pay income tax to those states.
Last edited by Ex New Yorker; 04-21-2014 at 12:20 PM..
Northerner89:
We did work for this firm while we were living in New York. Since all of our work is on a computer we could live anywhere, getting out of New York was our first priority. Boy, were we lucky!
You are 100% incorrect, if you live out of state and derive an income from any business that resides in any state which has an income tax you must pay an income tax to that state from which that income was generated. The form is called a "Non resident income tax". Look it up! If I had an account in a dozen or so states that have an income tax I would have to file a "non resident income tax form" for each and every state that I do business in and pay income tax to those states.
I'm aware of the non-resident income tax return (and Arizona has this as well, by the way), but I would think it would only apply if you are physically doing work in the other state, like people who live in New Jersey and commute to New York to work. I wouldn't have thought that self-employed consultants working entirely remotely would fall into that category. If I'm wrong, OK - I learn new things every day!
There are several business ventures currently exploring the idea of converting the Pacific ocean into drinkable water, then creating an infrastructure to deliver said water to the hydro-starved states. Problem for Nevada and Utah is, that's very expensive, and you either pay for it or move to somewhere cheaper. If you read Nevada politics/news you will see that this is a major issue for them, and they are shopping for water as we speak.
Exactly. Arizona will be in the same bind. Colorado won't be quite so bad, at least for a while. Desalinized water is not cheap, and these states can't expect the fed -- ie, the rest of the US taxpayers -- to fund their water systems as they have in the past.
"Undoubtedly, like ex New Yorker and Live Content, you'll continue to show up here to remind us about great it is there and how bad it is here. Don't let the door hit ya in the arse on the way out."
It seems like you are a little outnumbered, do I detect a sense of envy? At least we have had the experience of living in different places and are better qualified to make an accurate comparison. I don't have to worry about the door, I'm already out, apparently that same door is keeping you in. Slammed shut as a matter of fact.
"I wouldn't have thought that self-employed consultants working entirely remotely would fall into that category."
Oh, indeed we do! However we also get a tax credit on our Arizona state taxes for income taxes paid to another state. What bothers me is the supposed "Taxation Without Representation" protection we as Americans supposedly have. I would much rather have all of my state taxes go to the state in which I reside, instead of splitting them up and giving a percentage to a state that I no longer live in, and have no say how that money is spent.
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