retirement residency

Forum|Forum|1 year ago
June 25, 2024
1 reply
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I currently work and paid in WV and have a second home in South Carolina. Can i change residency to SC while drawing a paycheck from WV. Do i file taxes in WV or SC? Tax wise, which state would be beneficial to file in?

Also, which is better regarding SS payments and retirement withdrawls?

Not A Product Question

NCPERSON1

you pay state income tax to the state where you WORK and where you LIVE.

as long as you are working in WV, that is where you pay income tax to.

If you decide to move to SC, then things change. Simply owning a 2nd home in SC doesn't mean much.

xmasbaby0

Employee

Your other question:

"Also, which is better regarding SS payments and retirement withdrawals?"

Neither WV nor SC tax Social Security benefits. Both states tax other sorts of retirement income; we do not have any details from you about the retirement income you will be receiving.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

NCPERSON1

in SC, beyond social security not being taxable, military pensions and the first $15,000 of private pensions are not taxable either. it is a "friendly" state for retirees.