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Maybe this happens in other states too but before YOU make the move keep all your tax returns for ever. Just this yr after doing my 2015 taxes I was informed I owed around $4,000.00 in back taxes fines and penalties from 2002 or 2003. Problem is I didn't move to NC until 2004 February. I had sold a lot of property in another state in 02 and 03. They wanted their cut.
I called and explained I did not live in NC those yrs but did own a piece of property that was vacant until 2005. They wanted copies of my taxes in the other state for those yrs, right who keeps them that long. I contacted the other state and they wanted $35.00 per page to copy and up to 6 months. They didn't want the cover page but the entire return. You're looking at $1,500.00 just for copies? I finally contacted an accountant here in NC and was told this is normal for NC and he has handled hundreds of cased like this. I finally negotiated a payment because the accountant wanted in the area of $3,500.00 deposit plus I had to get the returns from the other state at that cost. Wasn't worth fighting.
Also keep all taxes paid from LOCAL governments also, Henderson County a few yrs ago changed the way they collect taxes on your cars. A few yrs ago they sent me bills for taxes on cars I had sold 10 yrs ago, yes 10 yrs. I was told prove you paid them. You have no choice but to pay because they will not register the car you have now unless you PAY.
I did own some mobile homes and lucky my attorney had the paper work showing those taxes were paid, he saved me $3,500.00 and only charged me less than a hundred dollars for copies from yrs back.
This is why folks skim/doshonest on their taxes.
Maybe this happens in other states too but before YOU make the move keep all your tax returns for ever. Just this yr after doing my 2015 taxes I was informed I owed around $4,000.00 in back taxes fines and penalties from 2002 or 2003. Problem is I didn't move to NC until 2004 February. I had sold a lot of property in another state in 02 and 03. They wanted their cut.
I called and explained I did not live in NC those yrs but did own a piece of property that was vacant until 2005. They wanted copies of my taxes in the other state for those yrs, right who keeps them that long. I contacted the other state and they wanted $35.00 per page to copy and up to 6 months. They didn't want the cover page but the entire return. You're looking at $1,500.00 just for copies? I finally contacted an accountant here in NC and was told this is normal for NC and he has handled hundreds of cased like this. I finally negotiated a payment because the accountant wanted in the area of $3,500.00 deposit plus I had to get the returns from the other state at that cost. Wasn't worth fighting.
Also keep all taxes paid from LOCAL governments also, Henderson County a few yrs ago changed the way they collect taxes on your cars. A few yrs ago they sent me bills for taxes on cars I had sold 10 yrs ago, yes 10 yrs. I was told prove you paid them. You have no choice but to pay because they will not register the car you have now unless you PAY.
I did own some mobile homes and lucky my attorney had the paper work showing those taxes were paid, he saved me $3,500.00 and only charged me less than a hundred dollars for copies from yrs back.
This is why folks skim/doshonest on their taxes.
It's no wonder people don't trust the government.
For federal tax, i believe they can't go back more than ten years unless they find something wrong in a current tax return. State tax may be different i guess.
It appears that NC taxes all income but not Social Security, so for retirees, NC is not that bad. Not as good as TN, which only state income taxes dividends on stocks (6%), no SS, pensions, income, etc. But the much lower property taxes in NC more than offsets the astronomical taxes in TX.
Hendersonville / Henderson County is 7% sales tax, it looks like.
There is a vehicle yearly property tax, which turns out to be fairly negligible. Based on a calculator I found, the tax on a 2012 vehicle worth about $14,000 would be about $90 a year. Sound correct?
However, this is offset to a large degree by the fact that when you buy a car, your sales tax is only 3%, with a maximum of $475.
To compare, TX sales tax is 6.25% on the whole value of a car sale, so we paid $875 in taxes for the $14,000 vehicle. In NC, that would only be $420. If we bought a $25,000 car, the tax would still only be $475, vs. $1562. So, big savings there.
There is a vehicle yearly property tax, which turns out to be fairly negligible. Based on a calculator I found, the tax on a 2012 vehicle worth about $14,000 would be about $90 a year. Sound correct?
It is based on the property tax rate in the jurisdiction that the vehicle is registered in (i.e. where you live), so its hard to generalize. In Hendersonville, the tax will be a little over $143.50 for a $14,000 vehicle. (In NC there is a county and a city property tax rate. If you live in a city, you pay both.)
Quote:
Originally Posted by g1inskyms
However, this is offset to a large degree by the fact that when you buy a car, your sales tax is only 3%, with a maximum of $475.
Thats sort of correct. There is no sales tax when you buy a car. Every time you title a car, you pay a 3% Highway Use Tax. For an NC resident, there is no maximum. If you are moving here from another state, and titling your car in NC, the tax is capped at $250.
Here's another NC gotcha and who would ever think to check this beforehand. My son and daughter-in-law lived with us from 10/15 to 5/17 while we built our house then went back to CA. Both of them had jobs while here and paid NC income tax. In filing now for 2017, they will get refunds from the state of CA and federal but OWE NC. They only had income here for the first 4 month of last year yet NC wants a cut of what they earned in CA because they lived HERE part of the year !!! I was floored when they told me and sad because I know they will never consider coming back here to live now. This was the last straw and really leaves a bad taste about NC for them. Me, too.
So, if I were to move to NC and own rental properties in California, NC would want tax revenue from that income even though it has already been taxed in California? I find that hard to believe.....
Here's another NC gotcha and who would ever think to check this beforehand. My son and daughter-in-law lived with us from 10/15 to 5/17 while we built our house then went back to CA. Both of them had jobs while here and paid NC income tax. In filing now for 2017, they will get refunds from the state of CA and federal but OWE NC. They only had income here for the first 4 month of last year yet NC wants a cut of what they earned in CA because they lived HERE part of the year !!! I was floored when they told me and sad because I know they will never consider coming back here to live now. This was the last straw and really leaves a bad taste about NC for them. Me, too.
I find that hard to believe as presented. In fact, a quick glance at NC Tax Form D-400 PN 2017 Part Year Resident and Non-Resident Schedule shows that is not the case:
So, if I were to move to NC and own rental properties in California, NC would want tax revenue from that income even though it has already been taxed in California? I find that hard to believe.....
I can't explain it and can't quote for you off the forms since I don't have them - only going by what my son said. It sounds like double taxation to me. For my son, NC prorated based on how long they lived here but they still owed on a portion of their CA income. Both of them work for the Nat'l Parks and get layed off at the end of the season, thus are eligible for unemployment. And NC taxed them on the unemployment issued by the state of CA yet CA doesn't even tax on unemployment. I don't have other state info to compare and perhaps this isn't unusual but it's the first time he/we have run into it and he's worked at parks all over the country sometimes multiple states per year.
Here's another NC gotcha and who would ever think to check this beforehand. My son and daughter-in-law lived with us from 10/15 to 5/17 while we built our house then went back to CA. Both of them had jobs while here and paid NC income tax. In filing now for 2017, they will get refunds from the state of CA and federal but OWE NC. They only had income here for the first 4 month of last year yet NC wants a cut of what they earned in CA because they lived HERE part of the year !!! I was floored when they told me and sad because I know they will never consider coming back here to live now. This was the last straw and really leaves a bad taste about NC for them. Me, too.
I think any place you work and earn wages takes their cut via the part time resident tax. Not sure how much that amounts to, but not sure why someone would NOT expect to incur a state tax on income, no matter how long they lived there. Are there any states that do not tax income if you only lived there part time? You should live in VT! they tax every single penny of income you earn. No breaks for retirees, no breaks on Social Security, and if you buy something online or in another state that has no state tax on goods, they require you to report it on your state income tax or they threaten to come after you (not sure how they would know you buy stuff in NH)
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Overall Taxes
