Author Topic: In a 5-4 Supreme Court decision, RBG is on the same side as Scalia and Thomas  (Read 1435 times)

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Rob in VB

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Dividends are NOT taxed as a capital gain.  They are income. 

And capital gains are not taxed as income, they are subject to a privileged rate with some exceptions.

Single taxpayers with Modified Adjusted Gross Income (MAGI) of $200,000 and married couples with MAGI exceeding $250,000 are also subject to a 3.8% Medicare surtax on net investment income (which includes all taxable dividends).
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Hedstrom

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When I worked in Michigan, the state and Fed taxes I paid were then deducted from my Canadian tax...isn't that how it's supposed to work state to state?
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Saluki

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When I worked in Michigan, the state and Fed taxes I paid were then deducted from my Canadian tax...isn't that how it's supposed to work state to state?

I have to question how nice Canada is if you had to go to Michigan to find work :uhh
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Hedstrom

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I have to question how nice Canada is if you had to go to Michigan to find work :uhh

I was able to make more money since the Greenback was strong and I could benefit from more US tax breaks. In the spring of 2002 I exchanged one of my paychecks for $1.57 CDN per US dollar. You do the math.
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Justin NoCal

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So what you're really trying saaaay iiiiiissss.. AMERKA is way mo betta than Canandia.. Even by Michigan standards.

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Hedstrom

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As far as tax breaks and the strength of the dollar at that time, yes.

Now, back to the topic. If you live in state A and work in state B, does the tax you pay in state B get deducted from the tax you pay in state A?
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Beavis in KC

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Yes.  I live in Kansas and work in Missouri and that is how it works.
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Stab

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I have to question how nice Canada is if you had to go to Michigan to find work :uhh
Canadnians go to Michugan for the warmer winters. :uhh
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B.P. in H town

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As far as tax breaks and the strength of the dollar at that time, yes.

Now, back to the topic. If you live in state A and work in state B, does the tax you pay in state B get deducted from the tax you pay in state A?

That appears to be the main issue in the supreme court.  The Maryland taxpayers paid state income tax on wages earned and taxed in another state.  For the calculation of their county income tax they were not allowed to use the other state taxes paid as a credit against their county income tax.

Upon challenge the Supreme Court found this violated the commerce clause and ruled for the taxpayers.

So now it appears that any state taxing regime which does not give full credit status to taxes paid in other states on the same income is unconstitutionally taxing its residents.

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