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Updated about 2 years ago, 10/21/2022
Texas - Who gets Taxes?
I live in Ft. Bend County, recently sold a property in Matagorda County to an Investor in Harris County. I know I owe the state, but do I also owe the other Counties for this transaction?
Thanks!
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#1 Tax, SDIRAs & Cost Segregation Contributor
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Quote from @Robert Sims:
I live in Ft. Bend County, recently sold a property in Matagorda County to an Investor in Harris County. I know I owe the state, but do I also owe the other Counties for this transaction?
Thanks!
There is no state tax here in Texas and no county taxes, either.
@Michael Plaks. Thank you!
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#2 Investor Mindset Contributor
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As others have pointed out - Texas does not have a state income tax.
You may have to however pay state transfer taxes / stamp taxes which should have been calculated and paid at closing.
They are normally a percentage of the sales price.
- Basit Siddiqi
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- 917-280-8544
Quote from @Basit Siddiqi:
As others have pointed out - Texas does not have a state income tax.
You may have to however pay state transfer taxes / stamp taxes which should have been calculated and paid at closing.
They are normally a percentage of the sales price.