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Thread: Yet another tax question

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    Veteran Member dishis's Avatar
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    Default Yet another tax question

    In mid 2005 I moved from NC to SC. I continued to work in NC. I informed my company of the move and filled out change of address forms for them, but they did not give me a SC witholding form and I did not think of for several weeks. I finally got the correct form and sent it in. I ASSUMED it would be taken care off, but it never was.I know I should have paid closer attention. They continued to take out the same NC state taxes as before the move and no SC taxes.

    I assume I'm going to owe SC and get some back from NC, but do I need to see an accountant to straighten this out ? I usually file my own taxes, and planned on doing it myself this year. Thanks in advance.

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    Senior Member DanMorris95156's Avatar
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    Default Re: Yet another tax question

    Hi,

    You may be able to complete this on your own. Also - TurboTax may be able to help. You need to file a non-resident/part year resident return for both NC and SC.

    Your earnings are from the "source" state (NC) and you will file there. Your non wage type income is allocated between the two states depending upon the number of days or when you can actually demonstrate that you earned the money (e.g. interest is generally simply allocated based upon the number of days).

    Accordingly, you may have the effective withholdings as your income from your job is NC based and there were NC withholdings - your SC return will show that you had income attributable to NC and then SC will provide you a tax on that income, followed by a credit for your payments to NC - accordingly your income will not be double taxed at the state level.

    If you need more assistance, you may send me a note as my contact information is below.

    Regards,

    Dan Morris
    Daniel D. Morris, CPA
    [email protected]

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    Banned Melonie's Avatar
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    Default Re: Yet another tax question

    The only painful part is that you'll probably have to pony up the cash to pay SC state taxes before the NC state tax credit/refund reaches your bank account !

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    Veteran Member dishis's Avatar
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    Default Re: Yet another tax question

    Thanks for your help.

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