Description of immigration tax returns by States in the United States

There are many cities to choose from when immigrating to the United States, but all of them have good welfare and make everyone satisfied. Let me tell you about the tax returns of immigrants from various States in the United States.

The three states with the most immigrants.

According to CNN Money, Pew Research Center analyzed the number of immigrants in each state according to the data of 20 14 census. The data shows that California has the largest immigrant population, with1050,000. Since 1970, California has never lost this top spot.

According to Pew's analysis, 25% of legal and illegal immigrants in the United States are located in California. The immigrant population of Texas and new york is 4.5 million, accounting for 1 1% of all immigrants, and tied for second place. In recent decades, immigrants from Mexico, South Asia and East Asia have risen sharply, making the immigrant population in Texas and California grow steadily since the 1970s. 56% immigrants from Texas come from Mexico, and Mexican immigrants from California account for 4 1%. Immigrants in new york are more diverse. Mexican immigrants account for 6% of the immigrants in the state, which is the smallest group. Other immigrants come from Asia, Central America, South America, Europe and the Caribbean.

Many people from Texas have also left the United States.

According to a survey released by Pew at the end of last year, with the strengthening of immigration law enforcement in the United States, from 2009 to 20 14, 654.38 million Mexicans and their families (including American-born children) left the United States voluntarily, while 870,000 Mexicans entered the United States during the same period.

According to the CNN Money website, the study said that these Mexicans left the United States for a variety of reasons, the most important of which are two points: one is the slow economic recovery in the United States, and the other is missing their relatives in their hometown.

Immigrant-friendly city

Austin, Texas

The floating population is about 1.5 million, accounting for 1.9% of the city's total population. Hispanic immigrants have the largest population, nearly doubling since 1995, and the share of Asian immigrants is also large. The city has made continuous efforts to overcome the language barrier of immigrant life and created more employment opportunities.

Seattle _ Washington.

The immigrant population has exceeded 654.38 million, accounting for more than 17% of the city's total population. Most of them are from Asia, but some are from Europe, Latin America and Africa. The local police station has set up a 10 advisory committee to solve the problems of ethnic minorities.

What is the tax system in the United States?

The American tax system is based on income tax. The federal, state and local governments in the United States implement a thorough tax-sharing system according to the division of powers and responsibilities. The federal and state legislates separately, and local taxes are determined by the state.

Federal taxes are mainly personal income tax, social insurance tax and enterprise income tax, in addition to inheritance tax, gift tax and consumption tax. The tax declaration of new immigrants in the United States usually mainly refers to the declaration of federal personal income tax.

Who will become a taxpayer in the United States?

The global income of taxpayers in the United States needs to be declared and taxed in the United States, including the following three types:

(1) American citizen

(2) American green card holders. According to American tax law, new immigrants will automatically become American tax residents and green card holders from the date of landing.

(3) Living in the United States in the tax year of this newspaper 183 days; Or any foreign resident stayed in the United States for 365,438+0 days this year, and the number of days spent in the United States this year and the previous two years multiplied by an index (formula: the number of days spent in this year+the number of days spent in the previous year * 65,438+0/3+the number of days spent in the previous year * 65,438+0/6) accumulated more than 65,438+.

What does the US tax return cover?

The United States implements global tax returns, so it is necessary to apply for global income, as follows:

(1) Within the United States: it mainly includes salary and bonus income, self-operated income, bank interest income, dividends, stock trading income, housing rental income, EB-5 immigration project income, etc. ;

(2) Outside the United States: it mainly includes salary and bonus income, self-operated income, bank interest income, dividends, stock trading income, house rental income, franchise fee, etc. ;

(3) Specific overseas financial assets outside the United States: cash deposits, funds, stocks, PE, trusts, shares held by companies, cash value of life insurance and other assets that can be realized at any time.

It is worth noting that the global tax policy of the United States is aimed at personal income and specific overseas financial assets on a global scale, excluding personal total assets. In other words, personal salary, bank interest, real estate rent and financial income (such as securities, fund trading income, dividend income, real estate trading income, etc.). ) are all within the scope of taxation.

Will real estate be taxed in China?

For American green card holders born in China, their property in China is not included in the tax return. However, if there is relevant rental income after landing, it must be declared.

What are the common preferential tax policies and tax credits?

Although the American tax law is complex, it is fair and reasonable, the implementation of laws and regulations is transparent, and there are certain tax preferential policies and tax credits. For example, income from overseas work is tax-free. According to the tax laws of the United States, if you have lived outside the United States for many years (that is, you have lived in China for no more than 35 days in a year) and obtained labor income from sources outside the United States, you can enjoy foreign labor tax exemption 10 1300 USD (20 16 standard).

For capital gains obtained by buying and selling capital goods (stocks, mutual funds, real estate, artworks and other collectibles, etc.). ), those who meet the requirements can also enjoy the preferential tax rate applicable to long-term capital gains: those who hold capital goods 1 year or more can apply the preferential tax rate of up to 23.8% (including the rich tax of 3.8%) when buying and selling, instead of the general personal income tax of up to 39.6%.

For some children and full-time students, they can also enjoy certain tax credits. For example, children under the age of 17 can enjoy a child tax credit of 1000 USD/name, and the child tax credit directly deducts taxes instead of taxable income; Full-time students under the age of 24 can enjoy a tax credit of up to $2,500 for college fees.

In addition, according to the agreement signed by China and the United States to avoid double taxation and prevent tax evasion, the tax paid in China can also be directly deducted from the US federal tax, and there is no double taxation.

When do new immigrants in the United States begin to file tax returns?

According to American tax law, the first time for new immigrants to file tax returns after landing is one year after their customers become American tax residents.

It depends on the time when new immigrants land. For example, if a new immigrant lands on 20 16 12 3 1, then he needs to file tax returns before the deadline of 20 17 tax return season; If you log on to 20 17 1 10/,the first tax return time is before the tax return deadline of 20 1 8.

Taxpayers in the United States can postpone their tax returns for up to six months until June 65438+1October 65438+May of that year. However, the IRS only gives the right to postpone the tax return, but has no right to postpone the tax payment. If the tax is expected to be owed, it must be paid in advance before the tax filing deadline of the current year. If you still owe taxes afterwards, there will be fines and interest. It is recommended to pay taxes on time or in advance as much as possible to avoid unnecessary fines.

When is the deadline for filing tax returns this year?

Generally speaking, the deadline for filing tax returns is April 15 every year. And if the deadline for filing tax returns falls on holidays or weekends, it can be extended. Therefore, the deadline for filing tax returns in 20 17 will be April 18. Therefore, tax-related residents must submit personal income tax forms or extension application forms before this date.

Hong Kong and Hong Kong immigration experts said that although many families planning to immigrate to the United States have not yet involved the obligation to file tax returns, American tax planning will be an important proposition when planning to immigrate to the United States. It is suggested that applicants should start wealth planning under the guidance of professionals when planning immigration, understand the nature and background of assets, and rationally allocate assets under their names. Once you really want to immigrate to the United States in the future, you can honestly and clearly declare your property to the IRS.