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My bank got bought out, am I now going to have to start filing tax returns in a different state?
Announcing the arrival of Valued Associate #679: Cesar Manara
Unicorn Meta Zoo #1: Why another podcast?What banks work best with accounts in multiple states?Does getting a 1099 from another state count as working in another state if I was physically in my home state?K-1-P (or Equivalent) from Multiple StatesTax implications of receiving cash bonus from bank for a non-resident alienWhen filing for an NOL, do you have to file the amended previous years' returns after the NOL return?Tax implications for a child's savings accountIs income from bank account bonuses taxable on my state tax return?I hate the high taxes in NYC. Should I incorporate in or move to another state?Filing a tax return due to US bank interest for non-US personsDo US banks accept out-of-state applications for checking accounts?
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My bank just got bought by a bank in another state. Does this mean my interest earnings are going to get reported in that other state and potentially require me to file tax returns in the other state?
How is this problem handled by big banks with branches in many states?
united-states taxes banking
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
add a comment |
My bank just got bought by a bank in another state. Does this mean my interest earnings are going to get reported in that other state and potentially require me to file tax returns in the other state?
How is this problem handled by big banks with branches in many states?
united-states taxes banking
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
add a comment |
My bank just got bought by a bank in another state. Does this mean my interest earnings are going to get reported in that other state and potentially require me to file tax returns in the other state?
How is this problem handled by big banks with branches in many states?
united-states taxes banking
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
My bank just got bought by a bank in another state. Does this mean my interest earnings are going to get reported in that other state and potentially require me to file tax returns in the other state?
How is this problem handled by big banks with branches in many states?
united-states taxes banking
united-states taxes banking
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
asked 2 hours ago
Five BaggerFive Bagger
6,12021850
6,12021850
add a comment |
add a comment |
2 Answers
2
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oldest
votes
No. You owe/pay taxes based on your residency. The physical location of the entity paying you isn't relevant whether it's earned income or interest income.
There are some exceptions to this on an international basis. And, some states are aggressive in their methods of establishing residency but most involve you being physically present in the state over some time period.
answered 2 hours ago
quidquid
39.5k876127
add a comment |
Banks anywhere in the US report the interest you earn in a 1099-INT. You then report this income in your federal return, and in your home state return, if your state requires you to file.
I believe what you're alluding to is when you earn wages in multiple states (which would come in a W2 form). Only then you might need to file reports in multiple states.
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
add a comment |
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2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
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votes
active
oldest
votes
No. You owe/pay taxes based on your residency. The physical location of the entity paying you isn't relevant whether it's earned income or interest income.
There are some exceptions to this on an international basis. And, some states are aggressive in their methods of establishing residency but most involve you being physically present in the state over some time period.
answered 2 hours ago
quidquid
39.5k876127
add a comment |
No. You owe/pay taxes based on your residency. The physical location of the entity paying you isn't relevant whether it's earned income or interest income.
There are some exceptions to this on an international basis. And, some states are aggressive in their methods of establishing residency but most involve you being physically present in the state over some time period.
answered 2 hours ago
quidquid
39.5k876127
add a comment |
No. You owe/pay taxes based on your residency. The physical location of the entity paying you isn't relevant whether it's earned income or interest income.
There are some exceptions to this on an international basis. And, some states are aggressive in their methods of establishing residency but most involve you being physically present in the state over some time period.
answered 2 hours ago
quidquid
39.5k876127
No. You owe/pay taxes based on your residency. The physical location of the entity paying you isn't relevant whether it's earned income or interest income.
There are some exceptions to this on an international basis. And, some states are aggressive in their methods of establishing residency but most involve you being physically present in the state over some time period.
answered 2 hours ago
quidquid
39.5k876127
answered 2 hours ago
quidquid
39.5k876127
answered 2 hours ago
quidquid
39.5k876127
answered 2 hours ago
quidquid
39.5k876127
39.5k876127
add a comment |
add a comment |
Banks anywhere in the US report the interest you earn in a 1099-INT. You then report this income in your federal return, and in your home state return, if your state requires you to file.
I believe what you're alluding to is when you earn wages in multiple states (which would come in a W2 form). Only then you might need to file reports in multiple states.
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
add a comment |
Banks anywhere in the US report the interest you earn in a 1099-INT. You then report this income in your federal return, and in your home state return, if your state requires you to file.
I believe what you're alluding to is when you earn wages in multiple states (which would come in a W2 form). Only then you might need to file reports in multiple states.
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
add a comment |
Banks anywhere in the US report the interest you earn in a 1099-INT. You then report this income in your federal return, and in your home state return, if your state requires you to file.
I believe what you're alluding to is when you earn wages in multiple states (which would come in a W2 form). Only then you might need to file reports in multiple states.
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
Banks anywhere in the US report the interest you earn in a 1099-INT. You then report this income in your federal return, and in your home state return, if your state requires you to file.
I believe what you're alluding to is when you earn wages in multiple states (which would come in a W2 form). Only then you might need to file reports in multiple states.
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
answered 2 hours ago
wide.writing.immediatelywide.writing.immediately
734411
734411
add a comment |
add a comment |
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