Net Tax liability

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
User avatar
Topic Author
Godot
Posts: 71
Joined: Fri Jun 08, 2018 3:44 pm

Net Tax liability

Post by Godot » Sun Apr 14, 2019 11:38 pm

What does "net tax liability" refer to when filing for multiple states? I want to use a credit for State A and am trying to figure out what the net tax liability is for State B, which would be the amount of the credit. If it is not the amount withheld, what is it? How would I find out if and how much State A is already taxing me on income made for State B? TIA for any help. Last minute taxes here.
“Estragon: I can't go on like this. | Vladimir: That's what you think.” ― Samuel Beckett, Waiting for Godot

sawdust60
Posts: 193
Joined: Tue Jul 17, 2018 12:06 pm

Re: Net Tax liability

Post by sawdust60 » Mon Apr 15, 2019 12:37 am

Net tax liability should be the amount you would owe, if no tax was withheld. So if 1000 were withheld, and you get a 100 refund, the net tax liability which will have been paid is 900.

User avatar
Topic Author
Godot
Posts: 71
Joined: Fri Jun 08, 2018 3:44 pm

Re: Net Tax liability

Post by Godot » Mon Apr 15, 2019 3:24 pm

That helps. Thank you.
“Estragon: I can't go on like this. | Vladimir: That's what you think.” ― Samuel Beckett, Waiting for Godot

Post Reply