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California Tax FAQs for New Residents

Aug 17, 2007
If you are a new resident of California then you may want to learn about its tax structure. These are some basic checklist points for new residents:

. Is it essential to file a return in California State?
. Are you granted Other State Income Tax Credit?
. Are you acquainted with the influence of Community Property Laws on your taxes?
. In the case of Community property, in which category of the income bracket do you fit in?
. Have you sold your residential property?
. Have you claimed the relocation deduction?
. Are you just a visitor or planning to settle down?
. Are you a worker from other country?

1. Are you required to file a return in California State?

You may need to pay tax half yearly of full term. But, before filing the return you have to check your income criteria and the amount of tax payable in the Non Resident California Tax Booklet. If you dont fall under the taxable category, it is better you file the return so as to benefit from a refund, if California State Income Tax was withheld from your pay.

2. Are you granted Other State Income Tax Credit?

Your income may be taxable in two or more states. If you have paid the tax in the state you were working in and continue to do so in California, then you may be entitled for a tax credit.

3. Are you acquainted with the influence of Community Property Laws on your taxes?

As California is a community property state, all the property owned by a couple is considered community property. Each couple owns an equal share in the community property. Community property ceases to exist on the demise of either spouse. Community property tax also ends when the decree of dissolution matures.

4. In the case of Community property, in which category of the income bracket do you fit in?

Community property taxes affect the income figure you have specified in the state or federal returns. It may be an advantage, if both the spouses file their returns separately.

5. Have you sold your residential property?

If you have sold your residential property, it is beneficial if you dont mention it in your federal tax return, unless the profit exceeds your exclusion amount.

6. Have you claimed the relocation deduction?

If you are relocating for a job, then you may seek this deduction. However, to fall under this category, your workplace must be at least 50 miles farther from your home.

7. Are you just a visitor or planning to settle down?

If you are a resident of the United States and paying taxes and simply visiting California, then you dont have to pay the income tax. But, if you buy any product in the state, you are liable to pay sales or other local tax.

8. Are you a worker from other country?

If you are from another country and working in the United States, then you may need to acquire a sailing or departure permit before leaving the country.

Sales Tax- If you are not a resident of California, but you trade and work in the state, then you must file for California Income Tax Return. You may also have to pay Personal Tax, which may be deducted from your income.

Federal tax- If you visiting California for a business deal, you may have to file the Federal Income Tax with the Internal Revenue Service.
About the Author
California Tax Help is available with CPA Firm Murray and Young. Get a former IRS agent on your side to protect you, your family and your investments. Visit us at http://www.april15.com
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