Purchasing in North Carolina - residency issues

[30ashopper]

Never has Google failed me more than it did on trying to answer this question. Are there any folks on the board who are residents of N.C. or Florida and own property in both states? I've been looking at summer property up in the mountains of N.C., but am concerned I might get roped into having to file state income tax returns if I own property there. Curious if anyone knows what the rules are. (or does anyone know of a good tax / real estate attorney up in the Raleigh / Chapel Hill area?)

 

[Yarmap]

30ashopper

Try this site it looks as though it might help.

NC Income Tax (relocating, retirement, taxes) - North Carolina - City-Data Forum

 

[MissSunshine]

My father lives in St Louis Missouri and owns a piece of property on Balsalm Mountain in NC that he's selling. He has another property (that he's also selling) just above Tuxedo with incredible views and a contemporary cabin that he had built in the 70's. He knows all about these issues if you need guidance and/or are interested in checking out his places. I can attach a link to one of them. Let me know if you'd like more info and I'll forward him to you.
http://www.homesandland.com/EZtour?11877731

 

[Jdarg]

Never has Google failed me more than it did on trying to answer this question. Are there any folks on the board who are residents of N.C. or Florida and own property in both states? I've been looking at summer property up in the mountains of N.C., but am concerned I might get roped into having to file state income tax returns if I own property there. Curious if anyone knows what the rules are. (or does anyone know of a good tax / real estate attorney up in the Raleigh / Chapel Hill area?)

My dream setup. I am lucky to get there twice a summer for camp dropoff/pickup, but the whole summer there would be ideal!

 

[seagrovegirl]

Crazy k has a place in Franklin, NC and a place off of Bay Drive here. PM her. She's kept her residency here for tax purposes.

 

[Looser]

You will not have a problem. If your residence is in FL and by vacation prop. in NC no filing in NC.

 

[Sandcastle]

I'm a Florida resident and I sold a lot in NC last year. I had to pay NC state income tax on the capital gain from the sale (luckly, there was a gain). If you sell a property in NC you'll have to pay the state roughly 6% of any gain.