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Old 05-11-2009, 07:13 PM
 
Location: Lake Wylie, SC
299 posts, read 1,071,182 times
Reputation: 103

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Just wondering, for those of you who live in SC and work in Charlotte (all of you annual income is earned in NC)... when you file income tax returns in both states, do you end up paying tax to the state of SC, or does the credit for taxes paid to NC outweigh the tax in SC?

We're relocating to the Charlotte area (as soon as we can sell our home in OH) and we want to live in York County... so I'm trying to understand how it works to live in one state and work in another.

Thanks for any info you can offer

Pam
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Old 05-11-2009, 07:35 PM
 
63 posts, read 298,925 times
Reputation: 50
the tax credit should cancel out any tax from North Carolina, you'll only pay SC income tax on income earned in SC, dividends, and interest, etc...

The lower property taxes and gas tax more than makes up for any extra payed to NC.
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Old 05-12-2009, 12:45 AM
 
Location: Lake Wylie, SC
299 posts, read 1,071,182 times
Reputation: 103
robm, I think you misunderstood what I was asking. If you earn ALL of your income in NC, you pay income tax in NC. You file in NC. But you still have file in SC. SC will give you a credit for the taxes paid to NC. Will you owe any tax to the state of SC?
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Old 05-12-2009, 06:25 AM
 
Location: Lancaster, SC
245 posts, read 1,019,510 times
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We owed SC one year, but it wasn't much. We just waited until we got our NC refund to file SC taxes & pay. I would think it really depends on your individual status and how much or how little you have taken out of your paycheck.
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Old 05-12-2009, 09:42 AM
 
29 posts, read 86,937 times
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We moved to Ft Mill in Nov, hubby works in Charlotte (as do a lot/most people here)...and yes, for the most part, you are correct. It's actually noted as "SC-Exempt" on the tax section of his paystubs. You do have to file in both states, which is a pain. I'm sure there are examples of certain types of income where this may not apply. But the regular 9 to 5 income you earn in NC pays taxes to NC.
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Old 05-12-2009, 02:03 PM
 
Location: Autumn Cove, Lake Wylie, SC
393 posts, read 1,187,422 times
Reputation: 285
Quote:
Originally Posted by SilverSagess View Post
robm, I think you misunderstood what I was asking. If you earn ALL of your income in NC, you pay income tax in NC. You file in NC. But you still have file in SC. SC will give you a credit for the taxes paid to NC. Will you owe any tax to the state of SC?
This is correct. I work in NC and live in SC and file in both states. I usually get a refund from both states, but this depends on your situation.
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Old 05-12-2009, 02:51 PM
 
Location: Lake Wylie, SC
299 posts, read 1,071,182 times
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Uber... how can you get a refund from the state of SC if you have not had any income tax witheld in that state, though? You must have some income that has been earn in SC....?
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Old 05-13-2009, 05:50 AM
 
Location: Autumn Cove, Lake Wylie, SC
393 posts, read 1,187,422 times
Reputation: 285
Quote:
Originally Posted by SilverSagess View Post
Uber... how can you get a refund from the state of SC if you have not had any income tax witheld in that state, though? You must have some income that has been earn in SC....?
My wife works in SC.
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Old 05-14-2009, 06:48 AM
 
218 posts, read 522,906 times
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Same here, wife works in SC I work in Charlotte. So we had to file both but SC gives you a tax credit on the taxes paid to NC. We came out ahead this year.
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Old 05-14-2009, 05:16 PM
 
Location: SC
1,141 posts, read 3,544,458 times
Reputation: 642
Quote:
Originally Posted by SilverSagess View Post
Just wondering, for those of you who live in SC and work in Charlotte (all of you annual income is earned in NC)... when you file income tax returns in both states, do you end up paying tax to the state of SC, or does the credit for taxes paid to NC outweigh the tax in SC?

We're relocating to the Charlotte area (as soon as we can sell our home in OH) and we want to live in York County... so I'm trying to understand how it works to live in one state and work in another.

Thanks for any info you can offer

Pam

I live in SC and work in Charlotte NC. I file state tax returns in both states.
The credit in NC pays the taxes for SC so to speak. However I did have to pay SC, because I have a private fund that I receive monies from, and tax is due for that only by where I live, and not where I work.
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