Conference nyoss1::market_investing

    It might be possible--trusts have a location and so pay taxes for
    the state in which they are located (I know this because my brother
    is trustee for my son's college trust.  He lives in Oregon, and 
    the trust files an Oregon tax return as well as a Federal one, but
    not a NH one).
    
    I guess you could make some kind of trading entity, like a company, 
    located in Texas or NH, in which you would own shares.  As long as
    you don't sell the shares, there is only unrealized capital gains.
    But the company would have income and capital gain, and pay Federal
    taxes on it.  I suspect those taxes are high, as every mutual fund
    I've read a prospectus for says that it will pass on its income and
    capital gain to share owners rather than pay taxes on retained income
    and gains.
    
    If you cut the "beneficial ownership" connection between you and your
    money, so that Mass. wouldn't be able to count the capital gain to the
    trust/whatever as gain to you, that might work.  You could try to set
    up a trust for your aged parents, to be used for this and that, the
    capital to revert to you when they die, for example.  But a trust for
    which you are the beneficiary?  I bet Mass. has that angle covered!
    
    Please tell us what you discover after you consult a sophisticated
    Mass. tax lawyer!
    
    		-John Bishop

    I know of at least one couple that had huge unrealized capital gains.
    They moved to NH and THEN sold their stock.  I suppose it would be
    possible to buy U.S. Treasuries, move back to MA and live off the
    interest, state tax-free.  As far as I know this is entirely legal.
    
    Of course the real problem is amassing all those capital gains!
    
      John

    Re: .1 - Trust located in Oregon being taxed
    
    	This has not been my experience.  When there was a truse set up for
    my set mother in Boston, Mass COULD NOT touch the gains for taxation
    purposes as FNB Boston was Trustee for a Vermont Resident, which
    therefore made it a Vermont trust, taxable in Vermont.
    
    It would be interesting to know how the Oregon trust is set up so that
    one pays Oregon tax when you are not a resident.
    
    I son't know trust law, but my experience seems to be that the state of
    creation (where the creator of the trust resided), or trust beneficiary
    is the state of taxation.
    
    Bill
    

    I'll double-check tonight.
    
    	-John Bishop

    I looked (took longer to remember to look, sorry) but don't
    have any more solid data--nowhere in my files does it say
    which state the trust is in (e.g. not in the trust, not in
    the request for a Federal Tax ID...).  I'll wait until the
    next time I'm in touch with my brother the trustee or my
    acountant to ask again.
    
    		-John Bishop

    Another quick question on paying state taxes.  I'm a new
    Non-resident filer living in NH, working now in Mass.
    My W2 lists Box 1: Wages,tips other compensation which is what
    I use for my Federal return.  Box 17: says State Wages, tips, etc.
    For my Mass. tax form, which box do I list use for my Non-resident
    income amount??  I think Box 1, and hope Box 17 since its smaller.
    

>    My W2 lists Box 1: Wages,tips other compensation which is what
>    I use for my Federal return.  Box 17: says State Wages, tips, etc.
>    For my Mass. tax form, which box do I list use for my Non-resident
>    income amount??  I think Box 1, and hope Box 17 since its smaller.
    
 For Form 1-NR, Item 2 is from your U.S. return -- 
	U.S. 1040 line 23, 
	U.S. 1040A line 14, OR
	U.S. 1040EZ line 4

 For Form 1-NR, Item 3 Wages, Salaries, Tips, Other Employee Compensation
	I used box 17 from my W-2. However, I recommend you get a copy
	of the '93 MA. nonresident Income Tax Form 1-NR Schedules and
	Instructions, because it details what to do if you were a MA
	resident for a portion of '93. There is an "Apportionment 
	Worksheet" section in the Form 1-NR. 

  I hope this wasn't clear as mud. :-) 

  Ray
	

    Which form do I need to fill for "extension of filing STATE taxes"?
    
    thanks,
    
    - Rajesh

    Do you owe them? Last year I just filed ~1 month late and didn't do
    anything because they owed me (not good business sense).  
    
    Sorry I don't know what the form is but remember if you owe them you have 
    to send it in with an estimate of what you owe.  I'm pretty sure the
    book containing the form(s) has info on the late filing form.
    
    Bill
    

re: .6, .7

In general, if box 17 is less than box 1, it means that your
employer has done the apportionment for you and you must
use the box 17 amount.  If you calculate even less, then your
best bet is to try to get a corrected W-2, since the MA DOR 
can be stubborn about not taking your word over your
employer's.  

Note .6 implies that DEC does the apportionment.  This in
turn implies that you must be compulsive about making sure
DEC payroll has an accurate picture of the number of days
you work out of MA.

If box 17 and box 1 are identical, then MA DOR is willing to
assume that your employer hasn't done any tracking, and 
therefore they are far more willing to accept your apportionment.

Either way, the advice in .7 about checking the instructions
should be observed.

   Gary

    Well, my wife is and has been a Mass. resident, and on her W-2, the two
    boxes were different amounts. We're waiting to hear from the person who
    typed up the W-2's why they're different.

    My two numbers are different, but I spent the whole year working
    in Mass other than a few weeks vacation which does not equal the
    amount of the difference between box 1 and box 17.
    

Do you participate in the DCRA?  It's the only thing I
can think of that might have different deductibilty 
rules, causing this difference.  

Now you have me wondering.  I'll have to double 
check my W-2 to see if they're the same on mine.

  Gary

    
    can someone please post the address to send a completed Mass NR1 form.
    My CPA forgot to return the envelope.
    
    thanks

    No, I don't participate in DCRA.  I wonder if maybe they credited
    me income in NH for January and changed me over in Feb.  I did
    transition from NH in MA at the beginning of the year.  Maybe they
    didn't finalize this in my checks for a few weeks?
    

    Does the State of New Hampshire tax capital gains on stocks ?  If so
    what are the rates or range of rates ?
    
    Does NH still tax Interest and Dividends ?  I think I recall a change a
    few years ago to eliminate this tax.
    
    Thanks,
    
    Don

>     Does the State of New Hampshire tax capital gains on stocks ?  If so
>     what are the rates or range of rates ?

	no tax on gains

>     Does NH still tax Interest and Dividends ?  I think I recall a change a
>     few years ago to eliminate this tax.

	yes, it still exists.  it's been revised.  see existing topic