Taxes in Missouri. This was asked before but I never saw it answered. (Springfield: car insurance, how much)

[Bird_Watcher]

Originally Posted by MoMark

Even so....it's still a lot cheaper here tax-wise in general and after the first shock of paying Personal Property taxes (which I'd never heard of before) (

It sure is a lot cheaper tax-wise...and I needed it explained to me a few times before it sunk it on why I had to pay PP Tax on my car. I never heard of it before either. Having moved to MO from Cali...the state with a very high cost of living...I was very suprised with all the "little" ways they (MO) try to get you.


Not to get off topic here...but when I moved to Rolla I almost fell over when I got my water/sewer bill!! It's a bill that comes every month. (Ohio-a resident gets a water/sewer bill every three months..and for 14 years I never paid over $40.00 for water/sewer...and keep in mind that's for 3 months of service!)

Now mind you, I live alone and each month my water bill in Rolla was never under $80.00!!!...never in my life did I pay an $80.00 water bill! ...well being the person I am I refuse to pay for something without it being spelled out in black and white.

I was told that I was the first person to complain about it... ...my answer back to that was people obviously don't know any better and/or don't bother reading over their account and just pay whatever the bill is without asking questions first.

These are all things that will better equip me BEFORE I sign on the dotted line.
Sorry, didn't mean to go off on a tangent!...

[J1ndo]

Originally Posted by MoMark

I was told unless I wasn't a resident in 2005, I would have to pay Missouri taxes even though I stopped earning income in May of 2005 in Nevada.

Am I understanding you correctly? If this year I were to move from CA to MO, say in March, come tax time in 2008 I would have to pay both MO and CA taxes on my income?

Say it ain't so!

[gonefishing]

Originally Posted by Bird_Watcher

Having moved to MO from Cali...the state with a very high cost of living...I was very suprised with all the "little" ways they (MO) try to get you.

Besides the water bill being high and the property tax on the vehicle and paying taxes on my social security check...when I am eligible to get one...and paying taxes for income earned in another state is there anything else that need to be aware of?

I know some say the homeowners insurance and real estate taxes are high but mine are already high.

Anyone know what it costs for a new drivers license?

[gonefishing]

Originally Posted by MoMark

I also don't agree a state should be able to tax your income earned out of state when you weren't even a resident of the state wanting to tax you! To me that's outrageous! But, Missouri does do that, so don't faint when you see the accountant or let your blood boil.
Even so....it's still a lot cheaper here tax-wise in general and after the first shock of paying Personal Property taxes (which I'd never heard of before) and then being told my income was in their reach from another state long before I moved to Missouri........


I sold stock...so that will get me up the rump when I go in...

Anyone ever sold a business and then moved to MO? I'm wondering what kind of taxes one would have to pay if they made the money in another state.

[Boof]

Geez, all these taxes coming out of the woodwork.....

Just recently did I learn that motorized vehicles are considered Personal Property and taxed, above and beyond registration. So does this PP Tax also include free standing Appliances, Lawn & Garden Equip., Furniture, etc....?

There was a house for sale that we really liked, and we called to inquire about it. We were told that the Heating bill for 3 mos. was over $1700. OUCH with a capital O!!! Granted, it's an old home, but dang!!!

We were hoping to NOT have to have high paying, stressful jobs if we relocated. Is that not the case??

Guess I'll have to check out some of those links on Taxes. It might not be a bad idea to call a Tax Accountant too, huh?

[MoMark]

Originally Posted by J1ndo

Am I understanding you correctly? If this year I were to move from CA to MO, say in March, come tax time in 2008 I would have to pay both MO and CA taxes on my income?

Say it ain't so!

I'm not an accountant by any means, and believe me, my pucker drew in when I was told this too. I was dumbfounded and pissed off about it. But yes, my understanding and what my experience was was that Missouri had a right to tax my income from Nevada even though I had stopped earning income in May of 2005 (quit my job to sell my house and move here) and didn't get to Missouri until June of 2005.
I lived in a residence hotel for six months while looking for a house, which I found finally in Dec. of 05 and closed on in Jan. of 06.
When I went to do my taxes, I was told that I had to pay Missouri income taxes on my Nevada earned income, even though I wasn't a Missouri resident even after I stopped earning in Nevada!!!!!!!!!
I was incredulous...huh? What? You can't be serious. How can Missouri tax income from out of state that was earned before I even entered the state of Missouri?
Well...they do.
My accountant said...well, let's determine if you were a resident of Missouri in 2005.
- When did you move here from Nevada? June 05.
- But you left the state and returned and left and returned during that time didn't you? (while nodding her head up and down)..... Uh...yeah
-Well, then you weren't a resident because you were in and out of the state.
-When did you buy a permanent home in Missouri? Jan of this year (06).
-Good. You weren't a Missouri resident then in 2005.

That's how I got out of it and it would have cost thousands of dollars. I think that's robbery!!
Fortunately....it is only one time you go through this crap and as unfair as it is, and it is unfair to the extreme, once you're a resident it's done.

So, my advice is, buy your home here in January if possible, or, make sure that you have some good reason to declare yourself a non-resident the year you move to Missouri by leaving the state often so you can say you weren't a permanent resident.

And when you go to the DMV, you'll have to go to the courthouse first and get what is called a "Personal Property Tax Waiver" (you won't pay PPT for the year you move to MO.) which you will then take to the DMV along with your Vehicle Safety Inspection receipt and your old driver's license. You will also need to remove your out of state plates and bring them in with you, or you'll get to the front of the line, find out you need to turn them in, and lose your place if you're not prepared.

[MoMark]

Originally Posted by shyandretiring

Besides the water bill being high and the property tax on the vehicle and paying taxes on my social security check...when I am eligible to get one...and paying taxes for income earned in another state is there anything else that need to be aware of?

I know some say the homeowners insurance and real estate taxes are high but mine are already high.

Anyone know what it costs for a new drivers license?

No, the homeowners insurance is cheap and the real estate taxes are ludicrously low here. Believe me, outside of the stupid stuff that everyone's discussed, once you're past the initial shock of the income tax issue and Personal Property tax thing, the rest is a breeze and very inexpensive.
A driver's license is about $70 if I remember right. I can't remember and I'm too lazy to go to my old checkbook and look it up what I paid. But it wasn't bad at all. And, here there are private companies under contract with the state who provide the DMV services and they have a few offices around town so you can get in and out with a new drivers license and plates in an hour, instead of waiting all day like in Las Vegas or California.

Now for home insurance and property taxes. I'll show you what I pay and you can gauge if that's cheap or expensive...
(I'll tell you this first. I paid $2200 annually for a 2254 sq.ft. house on 1/5 acre in Henderson, Nevada).

Here I live in a 2301 sq. ft. brick custom home on 4.3 acres outside city limits, but within Greene County. My property tax bill for 2006 was $1479.79. My Personal Property tax bill for my 98 Toyota Tacoma (I had to pay this year as I'm a full resident now) was $79.
My home insurance is $1350 with Farmers and I get a discount for being older (44), having a brick home, and for having my vehicle insurance with them too.

I don't have a water or sewer bill because I'm on a septic tank and my water comes from a well.

My electric bill runs about $45/month as I'm on an Electric Cooperative and it's just cheap! My neighbors pay $200+ a month, but they have two big Koi ponds and have big motors running 24/7 to keep the water flowing and moving and it costs moolah.

[WanttogotoMissouri]

I will tell you what..none of you guys want to move to California. The taxes are terrible. $30,000 car probably $458 a year, $500,000 home taxes $5,000 a year. Taxes on everything!

[J1ndo]

Thanks MoMark for all the good info.

[garth]

Here's a cut 'n paste from an article off the KY3.com website (Springfield tv station). It tells of proposed legislation that would exempt social security from taxation in MO.

**********
House expands proposed tax cuts for retirees

by The Associated Press

JEFFERSON CITY, Mo. -- The House expanded a proposed tax cut designed to help retirees.
A bill pending in the House would exempt Social Security benefits and pension plans from state income taxes. It was projected to cost $130 million. House members expanded the bill on Wednesday to also exempt up to $6,000 annually in capital gains and retirement plan interest. That likely would add $100 million to the cost of the bill.
The House did not vote on the overall legislation. Debate likely will continue on Thursday.

House Speaker Rod Jetton is a supporter of the tax cut. He believes the cost will be partially offset by increased state revenues. Critics say the money should be used to turn back cuts made to state programs in recent years.