Do I pay taxes on stock sales based on what state I bought them in, or currently live in?

2 ⤊

Do I pay taxes on stock sales based on what state I bought them in, or currently live in?

I moved to Texas after living in California for the last 11 years, and I plan to sell some stocks which I accumulated in California. Now that I live in Texas, do I have to pay income tax on the profits from those stocks to California even though I will not be a current California resident?

2007-08-21 17:52:43 · 2 answers · asked by tneper 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

If you live in Texas when you sell the stocks, you won't pay state income tax on the sale.

Federal income tax is the same no matter what state you live in.

2007-08-21 18:41:00 · answer #1 · answered by Judy 7 · 2⤊ 0⤋

No.

2007-08-21 18:12:05 · answer #2 · answered by skipper 7 · 0⤊ 0⤋