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Old 05-21-2016, 12:43 PM
 
4,873 posts, read 3,599,236 times
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Quote:
Originally Posted by irish1485 View Post
Did you have to pay taxes in both states or only Illinois? I'll be moving to Edwardsville for work in August but hoping to live in St. Louis and this is my only concern.
I know my dad used to file taxes in both states when he lived in StL and worked in IL, but I think there's some kind of credit involved so you aren't paying double the income tax.
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Old 05-21-2016, 06:48 PM
 
Location: St. Louis
685 posts, read 766,508 times
Reputation: 879
Quote:
Originally Posted by irish1485 View Post
Did you have to pay taxes in both states or only Illinois? I'll be moving to Edwardsville for work in August but hoping to live in St. Louis and this is my only concern.
I've lived and worked in both states. Taxes are reciprocal. Your payroll taxes will go to your state of employment, but you will file in both states. Your home state will give you a credit for the taxes paid in your state of employment, so you will not be double taxed.

I used to live Illinois and work in Missouri. Because income taxes are significantly higher in Missouri, I never owed anything to Illinois.

The flip side? When I lived in Missouri and worked in Illinois, I always owed money to Missouri. I had to adjust my W-4.
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Old 05-21-2016, 07:57 PM
 
14 posts, read 20,604 times
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Quote:
Originally Posted by RisingAurvandil View Post
I've lived and worked in both states. Taxes are reciprocal. Your payroll taxes will go to your state of employment, but you will file in both states. Your home state will give you a credit for the taxes paid in your state of employment, so you will not be double taxed.

I used to live Illinois and work in Missouri. Because income taxes are significantly higher in Missouri, I never owed anything to Illinois.

The flip side? When I lived in Missouri and worked in Illinois, I always owed money to Missouri. I had to adjust my W-4.
Gotcha. I've been reading up on it and this is in line with what I've been seeing, thank you. Any recommendations on where to live for a young professional (mid 20's)? From what I've seen on here CWE/Downtown/Soulard seem to be the top 3 recommendations.
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Old 05-22-2016, 07:09 PM
 
Location: St. Louis
685 posts, read 766,508 times
Reputation: 879
Quote:
Originally Posted by irish1485 View Post
Gotcha. I've been reading up on it and this is in line with what I've been seeing, thank you. Any recommendations on where to live for a young professional (mid 20's)? From what I've seen on here CWE/Downtown/Soulard seem to be the top 3 recommendations.
It depends on your housing, economic, and demographic preferences. The CWE, downtown, and Soulard are all great places for younger folks, but they are different from each other. CWE = Urban, established, and cosmopolitan. Downtown = Very urban, newer, edgier. Soulard = St. Louis' version of the French Quarter, a little slice of Europe.

I would also add Tower Grove, Shaw, Maplewood, University City, and Clayton (if you can afford it).
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