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Old 11-20-2006, 05:32 PM
 
Location: chicago for now
109 posts, read 404,554 times
Reputation: 56

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I have a question if i live in wv and file my income tax will i get the same money back that i do in illinois. Or is it a state to state basis. I am not familiar with how it works and want to move in jan. 2007.
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Old 11-27-2006, 11:07 AM
 
Location: Triangle, North Carolina
2,819 posts, read 9,623,424 times
Reputation: 1507
Quote:
Originally Posted by citygrl707 View Post
I have a question if i live in wv and file my income tax will i get the same money back that i do in illinois. Or is it a state to state basis. I am not familiar with how it works and want to move in jan. 2007.
City:
No you will not. Can add some insight since I grew up in WV and also lived in Illinois (Crystal Lake)
Illinois is a flat 3% income tax, WV is tiered. If your single expect to get sliced for 6.5%.
Certain deductions are also unavailable in WV compared to IL. You will find yourself paying almost double in State Tax in WV vs. IL. Also, you will have personal property tax on your automobile. Don't fret, with WV's low tag renewals plus personal property it will not be that much more than IL with their tag renewals alone.

Where you will benefit in WV is in home property tax if you purchase a home. WV property tax is about 80% less than the Chicagoland area.
Example:
When I lived in Martinsburg, WV (stay away from there) my property taxes were $1,100.00 per year in 1992 when I ran. Today, they would probably be about $1,800.00 if that. When I lived in Crystal Lake on a similiar style house I was jabbed at $7,200.00 per year!!!

Back to income. WV seems to withold the "average" computation on pay. Basically, I always found myself owing a few hundred or getting back a hundred or so. That I liked. Illinois was about the same.

If you looking to WV to get away from Chicago due to high costs, etc., remember WV does not offer much in regard to employment and the pay scales are rather low. I found that in Illinois if you wanted lower prices, some opportunity, little property tax etc., then you could go down to Effingham, Anna, Carbondale, etc., and find it there too.

Good Luck,
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Old 11-27-2006, 05:27 PM
 
Location: chicago for now
109 posts, read 404,554 times
Reputation: 56
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as far as the earned imcome credit that i get in illinois i wont get that in wv. i am just not real great with taxes .
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Old 11-27-2006, 05:33 PM
 
Location: Triangle, North Carolina
2,819 posts, read 9,623,424 times
Reputation: 1507
Quote:
Originally Posted by citygrl707 View Post
as far as the earned imcome credit that i get in illinois i wont get that in wv. i am just not real great with taxes .
EITC is a federal IRS credit not a state filing credit.

Illinois has EITC that can max out at 5% of filing or about a few hundred.

West Virginia as far as I know does not.
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