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Is interest income on property sales taxable if I move to Nevada?

April 28, 2003


Subject:  California Tax Liability

From:  Dennis
Date:  Tue, 07 Jan 2003

Hi Mike -- After my wife and I move to Nevada, our primary income with be interest derived from the carry-back of property which we recently sold in California. I believe that any capital gain from the sale is subject to California taxes. Is the interest income also taxable in California?

Dennis

Answer

Date:  04 Apr 2003

The interest will not be taxable by California. See FTB Publication 1100, Taxation of Nonresidents and Individuals Who Change Residency.

Good luck!
Mike Gray

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Is interest income on property sales taxable if I move to Nevada?

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