Sentences with phrase «taxed by your state of residence»

Pensions and most interest and dividends are taxed by your state of residence when you receive them.

Not exact matches

By investing in a plan outside your state of residence, you may lose any state tax benefits.

You do not satisfy the substantial residence requirements (you spent 31 days during the Tax Year and a total of 183 days over the past 3 years, calculating the total number of days by adding the total number of days spent in United States this year to 1/3 of the total number of days spent in United States last year, and then adding 1/6 of the total number of days spent in United States 2 years ago to that total).

The tax treatment of such withdrawals at the state level (determined by the taxpayer's state of residence) is less clear, and states may ultimately determine the treatment of these withdrawals independently.

Clients seeking to maximize tax - exempt (municipal) bond holdings issued by their state of residence in order to minimize state tax exposure.

In Colorado, for example, some cities require that the short - term rental be in one's primary residence and a certain percentage of the rental income be taxed by both the municipality and the state.

The legislation passed by the Senate included changes to the exemption for gains from the sale of a primary residence, elimination of the deduction for state and local income or sales taxes, a cap on the deduction for real property taxes, elimination of the deduction of interest on home equity loans (unless the proceeds of such loans were used to substantially improve the residence), restrictions on the deduction for moving expenses to only active duty military, and restrictions on the deduction for personal casualty losses to Presidentially declared disasters.