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| *The Commerce Journal>>>United States Taxes |
Working in Kansas, should I live in Missouri or Kansas? |
In which state will I have to sacrifice the least amount of my income to taxes?? In the KC metropolis if you don't know how the tax structure (which I don't), a person could end up paying more taxes than necessary!! I need to know if I can live in Missouri w/o paying extra for my taxes, and does it save me money to live in the state I work? I know Johnson County is the most expensive as far as residential but that is all I know. To keep it simple, live in KS. If you live in MO you'll have to file returns in both states. KS tax rates are slightly higher at the upper end (6.45% vs 6% in MO) however the KS rates are slightly lower at the lower end (under $15k per year). If you make more than about $25k per year it's pretty much a wash. One other issue is that if you claim the Child Care Credit on your Federal return, KS offers a similar credit to residents only. MO has no such credit. If you live in MO and have child care expenses you won't get any State credit or deduction at all. You're welcome. TFTP. Report It Which state has the higher income tax...duh. |
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