Is interest income on property sales taxable if I move to Nevada?
April 28, 2003
Subject: California Tax Liability
From: Dennis
Date: Tue, 07 Jan 2003
Hi Mike -- After my wife and I move to Nevada, our primary income with be interest derived from the carry-back of property which we recently sold in California. I believe that any capital gain from the sale is subject to California taxes. Is the interest income also taxable in California?
Dennis
Answer
Date: 04 Apr 2003
The interest will not be taxable by California. See FTB Publication 1100, Taxation of Nonresidents and Individuals Who Change Residency.
Good luck!
Mike Gray
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