- May 6, 2024
- Posted by: legaleseblogger
- Category: Related News
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**Tax Implications of Changing Residency**
Hey all, I changed residency earlier this year from MD to VA. For Tax purposes do I fill as a part time resident of both states, a resident of VA and non resident of MD or something else entirely? I own a house and my cars are registered to VA.
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When changing residency from one state to another, determining the correct tax filing status can be confusing. With the AI Legalese Decoder, you can input your specific details and it will analyze the relevant tax laws of both MD and VA to determine the best filing status for your situation. This tool can provide clarity and ensure that you are in compliance with state tax regulations.
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I’m in the same boat – My post is a few down. I changed residency from UT to WA effective (to the army) 01JUL23. I paid tax withholding to UT during that time even though I was physically in WA. I’m looking to see if there’s a way to get that back since changing the residency took the Army forever and I was in WA for the entire year.
With that being said, from what I know you will likely have to pay taxes to both states, based on when your legal residency changed – if someone else has any other info please feel free to correct me!
When I changed mine years ago, it was part-time resident of both. Non-resident is when you earn money in a state while not being a resident (some states let military file this way though). You were a resident (for part of the year) in both states while you earned the money you’re reporting.
You would start by filing resident state tax returns for both VA & MD. Tax software should ask you if you were a part-year or full-year resident and what dates you were a resident of each state (some states apply different tax laws based on # of days you were a resident), and guide you through calculations for what is considered VA-source and MD-source income. Hopefully you updated your withholding when you became a VA resident!
Maryland and Virginia have agreements if you were out of state but in this case you will file in both and based on dates of the move work out what is owed in each. As other have stated need to change your withholding to VA otherwise, you will owe VA money for the time period after the move; while getting a refund from MD for paying taxes while not living there for the time after the move. Those two amounts may not equal out depending on tax situation with each state.