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We moved from Maine to North Carolina in August (after living in Maine for 12 years). Our son is a student at the University of Virginia and our daughter plans to return to Maine to attend college next fall. We still own property in Maine, as our house has not yet sold. We are, however, closing on a house in North Caroline on 11/30/12. Since our daughter wants to attend school in Maine, we decided not to establish a North Carolina residency yet (since we are already paying out of state tuition for one child). We voted in Maine, re-registered one of cars in Maine and registered our daughter for home-schooling in Maine (she is finishing high school through a fully accredited online high school). My question is whether or not this will have a negative impact on our 2012 taxes. We will own property in both states and my husband (and possibly I) will be paying income tax to the state of North Carolina. We both paid income tax to Maine for a partial 2012 tax year.
ANSWER
The BIDaWIZ Team's Answer:
It's very difficult for us to provide an exact answer to this question as it largely depends on information that hasn't been provided to us such as your adjusted gross income, expenses, eligible tax breaks etc. Generally speaking, you will not be taxed on the same income by both states as you can claim a tax credit for any taxes withheld by both states.
