Monday, February 7, 2011

I have homes in 2 states and live in both states during the year, which state am I a resident of for taxes?



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States
by mikebaird

Question by esjuhlin: I have homes in 2 states and live in both states during the year, which state am I a resident of for taxes?

I will soon have homes in Texas and California. My business is in Texas and I'll be living in both states. DO I have to become a resident of California and file a state income tax return?




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Answer by v b
You need a California tax professional to review your exact situation.

California loves to claim that you are a resident and tax you. Since Texas doesn't have an income tax form, this can be a big deal if California wins. (Texas gets their money from property taxes, so you effectively pay the taxes twice.)





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