If a $39,500 gross income in Massachusetts yields $26,184 net income
for a single male, what gross income in New Hampshire yields the same
net amount?
Howdy henrybrady9999-ga,
A reminder of the "Important Disclaimer: Answers and comments provided on
Google Answers are general information, and are not intended to substitute
for informed professional medical, psychiatric, psychological, tax, legal,
investment, accounting, or other professional advice."
Without knowing lots of details, which should not be posted here, in general
the differences between the two states is that Massachusetts has a flat rate
of 5.3% of the federal adjusted gross income and the state of New Hampshire
has no tax on income other than a 5% tax on dividends and interest income of
more than $2,400.
So, if the assumption is that dividends and interest income is less than
$2,400, then the basic adjustment is to subtract the 5.3% that Massachusetts
collects, which gives us a gross income of $37,407 in New Hampshire yielding
around the same $26,184 net income.
If the above answers your question, please tell me, so I can then post it as
an answer. If there are other factors you think should be taken into account,
please feel free to state them. Thanks!
Looking Forward, denco-ga - Google Answers Researcher personalized grant search, computational neuroscience::
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Prayer (*) Ma’moon Muneer Adawee, Age 12, Elise Ann Laurin was born on August 8, 1937 in Lawrence, Massachusetts and grew up in New Hampshire.
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No, there were no other outstanding factors to consider there; that
pretty much answers my question. Thanks, denco-ga...!
Howdy henrybrady9999-ga,
Greatly appreciate you accepting this as an answer.
A reminder of the "Important Disclaimer: Answers and comments provided on
Google Answers are general information, and are not intended to substitute
for informed professional medical, psychiatric, psychological, tax, legal,
investment, accounting, or other professional advice."
Without knowing lots of details, which should not be posted here, in general
the differences between the two states is that Massachusetts has a flat rate
of 5.3% of the federal adjusted gross income and the state of New Hampshire
has no tax on income other than a 5% tax on dividends and interest income of
more than $2,400.
So, if the assumption is that dividends and interest income is less than
$2,400, then the basic adjustment is to subtract the 5.3% that Massachusetts
collects, which gives us a gross income of $37,407 in New Hampshire yielding
around the same $26,184 net income.
If you need any clarification, please feel free to ask.
Search strategy:
Google search on: Massachusetts state tax
://www.google.com/search?q=Massachusetts+state+tax
Google search on: "New Hampshire" state tax
://www.google.com/search?q=%22New+Hampshire%22+state+tax
Looking Forward, denco-ga - Google Answers Researcher under 18::
to agree in the most-part, occasionally there are slight differences. Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire (as long as
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