New $2400 Unemployment Compensation Exclusion

[dyne]

The new $2400 Unemployment Compensation Exclusion on the federal return complicates
matters as for my STATE and neighboring state this exclusion is NOT allowed. It is an
add back to these states and no doubt many other states. I just prepared a return where
the federal tax was zero but the neighboring state tax was $104.

[taxmandan]

Ya gotit easy

The new $2400 Unemployment Compensation Exclusion on the federal return complicates
matters as for my STATE and neighboring state this exclusion is NOT allowed. It is an
add back to these states and no doubt many other states. I just prepared a return where
the federal tax was zero but the neighboring state tax was $104.

Our state may or may not go along with the exclusion. Depends on the vote January 26th by the electorate who are deciding on a sales tax or not. The unemployment exclusion was rolled in to the bill, so we get to wait and see.

[AuditorTurnedGood]

I've seen the new proposed income tax brackets

Our state may or may not go along with the exclusion. Depends on the vote January 26th by the electorate who are deciding on a sales tax or not. The unemployment exclusion was rolled in to the bill, so we get to wait and see.

for you all should that pass. 11% at the top? And I hear our legislators saying that 7.85% at the top with a 6.875% sales tax is driving people out of the state. Do you all have any sales tax at all now?

ATG

[taxmandan]

for you all should that pass. 11% at the top? And I hear our legislators saying that 7.85% at the top with a 6.875% sales tax is driving people out of the state. Do you all have any sales tax at all now?

ATG

Oregonians have rejected a sales tax 9 times at the ballot. Our property taxes more than make up for it and the legislature won't reduce any other taxes when they propose a sales tax. This is a stealth sales tax, it won't show up on the receipt at the register when buying something, it's rolled into the price of the product or service. It is a tax on the gross sales of a business, the very definition of a sales tax. But the legislature calls it a corporate tax, as if businesses don't pass on this and all other taxes to the customer! I don't know if the voters have seen thru this delusion, we'll find out on the 26th.

[dyne]

I just learned from Drake Tax Software Support that the federal $2400 unemployment compensation EXCLUSION for unemployment compensation received from N. C. is NOT an addback to the N. C. D-400 tax return. It IS an addback to the S.C. SC1040 tax return.

[Black Bart]

No problem.

Move here. No tax on unemployment.

[Peachie]

We are not

exempt from this tax in Georgia yet. It has to be added back in. However, Georgia has a retirement exclusion of which I will zero out so it won't hurt me. It will hurt others unless the legislature acts to change it. We are hurting here as you other guys are in your state.