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?

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Request for Question Clarification by denco-ga on 12 Sep 2005 18:54 PDT

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

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Clarification of Question by henrybrady9999-ga on 13 Sep 2005 03:44 PDT

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

Very prompt, clear answer.