Yeah, it is. The only reason I turn out to not owe taxes there is that I had the good sense to emigrate :) At that, I might still owe have owed taxes if I hadn't qualified for the EIC that year.
What gets me is that I nearly ovepaid my taxes by some fairly large amount. I am sure four years of interest and penalties would have been nothing to sneeze at either. And you are correct, there is no income tax in Texas. There is a sales tax, but it is not onerous, as it is in Washington state. I am thinking it's 5% in TX versus 8 or 9 in Washington. I know its high enough that Oregon residents normally do go through the paperwork to get it back if they buy stuff across the state line. Dana Haggerty, Mike writes: > The MD state income tax is oppressive, but the majority of taxpayers in > MD pay less than the majority of Virginia state taxpayers pay with their > property and viechle taxations. > > Pity the fool who has to pay taxes in DC, where the income tax rate > rivals that of the Federal government. Just about everyone I know in DC > has a permanent residence in some other state, esp. Texas, where there > is no income or property tax. From the way they tell it, the only taxes > paid in Texas are on ammunition. > > M > > > -----Original Message----- > > From: Dana Tierney [mailto:[EMAIL PROTECTED] > > Sent: Thursday, September 04, 2003 11:25 PM > > To: CF-Community > > Subject: Re: [rant] federal-state tax gotcha > > > > > > good point but come on, it's not *that* hard > > > > The current logic is: > > > > If StateHasIncomeTax = Y > > If StateReturnFiled = N > > StateTaxOwed = (FederalAGI * AppropriateStateTaxRate) + Interest > > > > How much better would it be to say > > > > If StateHasIncomeTax = Y > > If StateReturnFiled = N > > StateTaxOwed = StateTaxableIncome * AppropriateStateTaxRate > > > > Which is information that is available right there on the > > same W2 form. I mean, it seems this isnt just Maryland. This > > logic is being applied to everyone, and could produce > > erroneously high results in the case of anyone who has lived > > in their current state for less that a year. That has to be a > > lot of people, Florida, Texas and Washington notwithstanding. > > > > Anyway. Yeah, a state income tax is one of the things > > Maryland has working against it. Just one of the reasons I > > plan to live elsewhere forevermore... > > > > Dana > > > > [EMAIL PROTECTED] writes: > > > > > When we talk about overly complex business rules and project > > > requirements being a leading cause of IT project failure...I can't > > > help but think about how screwed up the IRS system must be. Imagine > > > trying to write up that design document! Two out of the > > last 5 or 6 > > > years I've not claimed a refund on purpose when it wasn't a lot of > > > money (<$500). I figure as long as the government owes me > > money...they > > > will stay away from me. > > > > > > btw...No state tax in Florida :) > > > > > > -- > > > mailto:[EMAIL PROTECTED] > > > Thursday, September 4, 2003, 1:18:41 AM, you wrote: > > > > > > <snip> > > > > > > DT> Moral of the story: This is apparently some sort of new federal > > > DT> data mining project. If anyone moves into or out of a > > state during > > > DT> a tax year, they should check for this, or potentially find > > > DT> themselves being charged way more state tax than they actually > > > DT> owe... > > > > > > DT> Dana > > > > > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Archives: http://www.houseoffusion.com/lists.cfm?link=t:5 Subscription: http://www.houseoffusion.com/lists.cfm?link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Your ad could be here. Monies from ads go to support these lists and provide more resources for the community. http://www.fusionauthority.com/ads.cfm
