Tulsa Remote • Hacker News Board

Re: Tulsa Remote

#21

Post by jupiter90000 » Fri, Nov 16, 2018, 12:27 AM UTC

dougmwne wrote: post #14

Both Oklahoma and Vermont have close to a 5% state income tax on the first 100k of income, so for many on HN, this is more like a rebate on state income taxes over the first 2 years. I guess if you always dreamed of moving to these places this could be that little nudge to finally try it out.

I'd assume the 10k they pay out through this program is also subject to all the income taxes as well.

Re: Tulsa Remote

#22

Post by xvedejas » Fri, Nov 16, 2018, 12:30 AM UTC

dougmwne wrote: post #14

Both Oklahoma and Vermont have close to a 5% state income tax on the first 100k of income, so for many on HN, this is more like a rebate on state income taxes over the first 2 years. I guess if you always dreamed of moving to these places this could be that little nudge to finally try it out.

This means that states without income tax (WA, NV, TX, TN etc) are yet still more enticing for most high-earning professionals. I agree with other commenters saying this doesn't do much except help the people who always were considering moving to OK/VT.

Re: Tulsa Remote

#23

Post by prestonbriggs » Fri, Nov 16, 2018, 12:30 AM UTC

I have a sister who recently bought a house in Tulsa. Their house is so large it's got rooms she's forgotten about... Pretty new, pool, nice neighborhood. Cost less than $300K. I don't know about the school district (Jenks). I'd sure like to see some progressive voters move down there.

Re: Tulsa Remote

#24

Post by Finbarr » Fri, Nov 16, 2018, 12:32 AM UTC

This reminds me a lot of patio11’s fascinating write up about Japanese Hometown Tax. It makes total sense for small cities to pay for high earning remote workers to move there. Perhaps this will become a trend. https://www.kalzumeus.com/2018/10/19/japanese-hometown-tax/

Re: Tulsa Remote

#25

Post by danimal88 » Fri, Nov 16, 2018, 12:37 AM UTC

Its interesting - given the 48k/job incentive that was being talked about for the amazon hq2, I wonder how the 10K in Oklahoma incentives compares. Of course, one is a corporate incentive in a place where a lot of skilled workers would likely be either way, and one is a place trying to attract talent, but on some level, it makes me wonder if the outrage over the tax incentives actually makes sense. Given the state income tax revenues and local economy inputs, it would seem that a 10K RAC (Resident Acquisition Cost) for someone making > 50K would be a no brainer assuming they still in Oklahoma for 4 years and the tax obligation is 5% to the state. Not sure what the numbers would look like in NY instead and whether the opportunity cost really applies since it would likely be full of ppl either way.

Re: Tulsa Remote

#26

Post by Twirrim » Fri, Nov 16, 2018, 12:40 AM UTC

Admittedly this is aggregate for the whole state:

https://www.usnews.com/news/best-states/oklahoma

  Overall Rank Out of 50: #43
  Health Care #48
  Education #39
  Economy #36
  Opportunity #38
  Infrastructure #31
  Crime & Corrections #34
  Fiscal Stability #22
  Quality of Life #17

Those aren't great incentives for people with families to want to move. Might be more tolerable for younger folks?

Of course, getting fresh tax revenue etc may be important towards getting those various things improved, and Tulsa might be significantly better than the rest of the state.

Re: Tulsa Remote

#27

Post by andy_ppp » Fri, Nov 16, 2018, 12:42 AM UTC

What I’ve never understood- what prevents me from, as a remorlte worker setting up a business in a tax haven and charging through that... I mean if this loophole is available to extremely well off individuals and companies why not for services...

Re: Tulsa Remote

#28

Post by niix » Fri, Nov 16, 2018, 12:54 AM UTC

Useless loader is useless.

Re: Tulsa Remote

#29

Post by charlesdm » Fri, Nov 16, 2018, 1:00 AM UTC

andy_ppp wrote: post #27

What I’ve never understood- what prevents me from, as a remorlte worker setting up a business in a tax haven and charging through that... I mean if this loophole is available to extremely well off individuals and companies why not for services...

CFC laws, which is something most developed countries have. These will in most cases "look through" artificial companies set up in tax havens and attribute the income to you personally.

Re: Tulsa Remote

#30

Post by mrkurt » Fri, Nov 16, 2018, 1:04 AM UTC

prestonbriggs wrote: post #23

I have a sister who recently bought a house in Tulsa. Their house is so large it's got rooms she's forgotten about... Pretty new, pool, nice neighborhood. Cost less than $300K. I don't know about the school district (Jenks). I'd sure like to see some progressive voters move down there.

I went to Jenks! Not sure that helps you decide good vs bad though. :D