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    texas50's Avatar
    texas50 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Jan 23, 2009, 08:20 PM
    Do I have to pay state taxes in my new state
    I have lived in Texas all of my life (51 years), I am getting ready to cash in a large long term capital gains item and want to move to North Carolina to retire. My question is, since Texas has no state taxes and I earned my long term capital gains while a resident in Texas, by moving to North Carolina do I have to pay state taxes on this long term capital gains? I will probably move there in Feb. and hope to find and close on a house by some time in March. Thank you in advance for your help.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jan 24, 2009, 07:03 AM

    No, if you made the sale befoe moving to NC. If you sell after moving to NC, then you must report the income on NC tax return.
    texas50's Avatar
    texas50 Posts: 4, Reputation: 1
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    #3

    Jan 24, 2009, 09:46 AM

    Thank you so much for your help. That is what I was thinking, but just wanted another opinon.
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