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About John Stancil, CPA
Expertise
I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Association of Tax Professionals, and the Institute of Management Accountants. Visit my website at www.johnstancilcpa.com. Also visit my blog, www.thetaxdocspot.com.

Experience
I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper. I have prepared taxes for over 30 years.

Education/Credentials
DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill College

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Tax Law (Questions About Taxes) - Taxes

Expert: John Stancil, CPA - 11/4/2009

Question
Hi John

Im a Texas resident and drive 90 miles round trip everyday to work in NM. Not sure that matters, but my question is do i have to pay State income tax for New Mexico and if so why? And if i make more than 60000 a year will i be able to recoup any or all of that money??

Answer
Matt,

Thanks for your question.

You will need to file in New Mexico as a non resident, paying tax on the income you earn in that state. All states tax income earned in the state regardless of your state of residence.

I realize that Texas has no state income tax so you cannot recoup the tax paid to NM. Normally, your state of residence would give you a credit for tax paid to other states. But with no income tax, you can't get a credit against it.

Hope this helps.

John Stancil, CPA

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