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I'm Pleased
Quote:
Originally posted by Gattigap
I believe that the similar dynamic occurs amongst states, relevant in our circumstance for GPs that are Ps within a multistate firm. You've gotta pay state tax for not only the state in which you live, but also the other states in which the firm is situtated.
Many states, I think, have tax treaties that allow credits of one set of paid taxes against those owed in the other jurisdiction.
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But there the firm is, in some sense, a resident of both states. If you spend six months of the year in California, and then move to Nevada, California can't tax the income you earn in Nevada. Only Nevada gets to do that.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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