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Author Topic: Working in Boston, living in NH  (Read 10473 times)

LarryCon

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Re:Working in Boston, living in NH
« Reply #15 on: October 20, 2003, 09:34:07 am »

I've lived both sides of the MA/NH income tax situation.  MA gets you either way.  One loophole is that MA gets nothing from stock options if you buy them at the option price early in your employment.  I did this in 1998 and it worked well when my company went public in 1999.  Capital gains is based on where you live.  At one point in the 90's, the cap gains tax in MA was double the income tax - 12%.  

Many sales people live in NH even if they sell all over New England.  They then prorate their state taxes based on either where they sell or what days they are in which state.

The irony of this is that MA would lose tax revenue big time if NH implemented a state income tax.  Those living in MA and working in NH and those living in NH and working in MA would pay say 4% to NH and the balance to MA (1.5%).  Even though this might lower my real estate tax bill in NH, I still don't favor and income tax in NH....
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jhiggin

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Re:Working in Boston, living in NH
« Reply #16 on: November 25, 2003, 04:04:58 pm »

ireland was used because artists do not have to pay taxes in ireland :)
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S Michael Moore

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Re:Working in Boston, living in NH
« Reply #17 on: December 10, 2003, 04:13:35 pm »

The Mass tax situation sounds like the baby brother of the US situation.  For those living in MA and working in NH it is a "citizenship" tax.  The US stands at the illustrious side of only Libya as countries which tax you solely for being a citizen.  They don't care if the income was derived in or out of the country or whether or not you live in or out of the country.

For those living in NH and working in MA it is a "privilege" tax.  You pay it for the honor of working in MA.

The whole situation is quite ugly and I for one can't wait to get to NH and help fight against the "privilege" tax on NH citizens.

On a seperate issue, I'm not sure why I am not listed as: FSP member under my name.
« Last Edit: December 10, 2003, 04:15:04 pm by Shane Moore »
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More and more, when faced with the world of men, the only reaction is one of individualism. Man alone is an end unto himself. Everything one tries to do for the common good ends in failure. -- Albert Camus

seand

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Re:Working in Boston, living in NH
« Reply #18 on: February 29, 2004, 10:14:31 pm »

The Mass tax situation sounds like the baby brother of the US situation.  For those living in MA and working in NH it is a "citizenship" tax.  The US stands at the illustrious side of only Libya as countries which tax you solely for being a citizen.  They don't care if the income was derived in or out of the country or whether or not you live in or out of the country.


That's not entirely true. If you spend at least 330 days of the tax year outside of the US, you don't pay federal taxes.
Some states, like the peoples republic of Mass. don't care and want you to pay state tax regardless of how long you were out of the country.  I worked overseas for a few years and made sure I got my passport stamped when I returned back from visits to the US so i could prove that I hadn't spent more than a month in the US.
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Rich T.

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Career Expo on April 27
« Reply #19 on: April 11, 2004, 12:12:26 pm »

There will be a Career Expo on Tuesday, April 20 at the Lowell Memorial Auditorium, 11:30am to 6:00pm.
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Eddie Willers

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Re:Working in Boston, living in NH
« Reply #20 on: April 19, 2004, 07:48:02 pm »

I've had a similar situation to the NH/MA question - I live in Oregon, and most of my work comes from California.

In our case, the rule is if you're in state for 50.1% of your time (IIRC), then that income is taxable to the state.

Since I do contract work through a corporation that I am a principle in, all monies go through that corp, and therefore are NOT payroll.

I am  careful to have other income sources, and follow all kinds of special rules to show that I should be subject to Oregon rather than California rules. From and income tax point of view, it's irrelevant since both states have 9% rates.

My point, is that perhaps you can do your job through a NH corporation, and spread out your income. No payroll taxes, just corporate taxes. BUT, you get all your mileage deductions, and myriad other expenses you can deduct for stuff you have to get anyway.

Not perfect, but you'll get to keep more of your money.

Eddie
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