The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/heres-the-conundrum-you-are-claiming-your-18979607.aspx

Subject:  Re: residency requirements for state taxes Date:  4/30/2003  8:38 AM
Author:  blkmagwom Number:  65232 of 131788

here's the conundrum:

you are claiming your daughter on your Maryland taxes, correct? If you want to make absolutely sure MD doesn't go after your daughter for state taxes, I would probably have her get a CA driver's license. For most states, you just have to take a written test if you already have a driver's license. It is a bit of a pain, but the effort might be worth it to save her thousands of dollars.

I moved from California to Michigan several years ago and I had to pay taxes in both states. I found - at that time - that California's tax laws for students to be very very nice. I got a lot of credits and nice refunds on a regular basis. Must be all those movie stars evening out the tax base.

Given California's economic troubles of late, I'm not sure what the tax situation is now.

-b-
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us