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Financial Planning / Tax Strategies
|Subject: Re: multiple state taxes||Date: 2/27/2000 2:21 PM|
|Author: TheBadger||Number: 30191 of 121219|
Generally speaking (because I am unfamiliar with Kansas & Missouri) you should:
1. File a state return for your state of residency (Kansas) including 100% of your income, irrespective of where earned.
2. File in each and every other non-residency state in which you have "nexus". Nexus is sometimes differently defined however, entering a state & earning a wage there clearly qualifies. When filing in a non-residency state you would typically file as a "non-resident" & only declare the income directly derived from that state. On this basis you would likely file a non-resident tax return for 1999 in Missouri.
3. Typically, the following year you can take a credit on your resident return for foriegn state taxes paid the prior year; e.g. on your 2000 Kansas return there will be some form of credit apportionment / computation form that will give you 100% or some lesser percentage credit for taxes paid the prior year to Missouri.
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