Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I am moving from WA to CO. I'm trying to figure out at what point I become a CO resident and therefore liable for state income tax.

All states have websites with URLs of the form http://www.state.XX.us/, where XX is the two-letter postal code for the state. For example, Colorado's website is:
http://www.state.co.us/

Once you get to the state's website, then look for their tax collecting agency. For the states in which I've lived, that agency has always been called the "Department of Revenue."

Once you get to the tax collecting agency, then look for information about "part year residents."

Based on my experience, I would expect that you will become a resident when you get a Colorado drivers licence, title and register your cars in Colorado, buy residential real estate in Colorado, and register to vote in Colorado. I would expect that you are required to get the drivers license and register and title your cars within 30 days of arriving in the state. There probably is some wiggle room, and a tax expert in Colorado can help you to figure out where the legal, ethical, and moral boundaries lie.

Another question: I will be receiving a significant amount of income ($50k) on around May 17th. Any legal and ethnical way I can have this as WA source income and therefore not subject to CO state tax?

This question is trickier. Somebody may be able to answer it. However I would ask a tax expert in Colorado.

David Jacobs
TMFDj111
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.