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Old 03-11-2013, 12:51 PM   #173
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Member#: 70082
Join Date: Sep 2004
Chapter/Region: NWIC
Location: Davis, CA
2016 SS, 02 s2k
06 Cayman S, 80cc shifter


Originally Posted by 53x12 View Post

I didn't realize you could roll over the state tax credit. Good to know.

For someone like me, the $7500 federal/state tax credits doesn't do much for me since I get a refund of about $5-6k each year. I know for some that tax credit would be nice.
You get a refund because you've paid tax all year out of your paycheck and you've paid more than you owe. With a tax credit you would owe less so you would probably get a bigger refund. It benefits anyone who earns taxable income.
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