Admitted to Kellogg Class of 2011 Thread

Nah, no crazy tax laws. Keep your home state if you want.

Thanks! Can't wait!

I believe Illinois has a flat 3% state tax, so it may work out in your favor to establish your residence as Illinois. However, I'm no tax expert, so let's see if the CPA's have anything to add.

It's up to you whether to change your state of residence, I think IL allows you to keep your legal residence in another state if you live in IL as a student. With regard to taxing out of state earnings, in the NYC region (where a lot of people work across state borders from where they live) the states have reciprocal agreements where, if you're a resident of state A and work in state B, state B applies their tax rate to income earned in their state, plus state A applies their tax rate to income earned in state B but then gives you a credit for taxes paid to state B. The net impact being if your home state has a higher tax rate than the state in which you work, your state will charge you the difference. I'm not familiar enough with Illinois tax law to know if they charge income tax on out-of-state earnings, but it wouldn't surprise me if they did.

One other point to make: a flat tax state like IL may make you worse off as a student with low income than a state with a progressive income tax system. So for example, if I became a IL resident and make $30,000 during my 3 month internship next year, I'd pay tax at 3% on that income. However, if I stay a NJ resident (where there's a progressive system), I'd only be taxed at 1.7%.

Interesting. I need to figure out if I can keep Texas as my state of residence while I'm in school since we have no state income tax. Although, I'll technically be packing up everything and leaving hen I move for school. i.e. I'll have no legal ties when I leave, expect my driver's license and voter registration.

I maintained my residence in another state since there is no income tax. You will pay taxes where you end up working but at least you wont have to pay the difference between the state where you work and IL if that other state has a lower tax rate. My wife changed her residence but I kept mine. It helps if you have a legal address you can claim, less of a risk of getting busted by the tax man. I do know people who kept residences despite zero ties and know people who used their parents or a house they own as their still legal address.

Whoa, I just got my KWEST assignment! That was much quicker than I had expected. And I'm very pleased with what I got - this is going to be a great trip.

Where are you going?!

i got mine too...first choice...but maybe we shouldn't reveal what it is? just to make it more exciting-

got mine too.. wasnt first choice..but thrilled nonetheless..

i hope i will see snow for the first time in my life ! ! !

That was definitely quicker than expected. While I'm surprised I got my third choice even though I signed up within 5 minutes, I'm still really excited.

You guys definitely weren't kidding when you said these trips fill up fast.

Got my first choice! I guess repeatedly hitting F5 starting 5 minutes before the registration time paid off. It was a pleasant surprise to find out, since I wasn't expecting anything until next month.

How did you guys find out? Did you receive an email? I'm a little worried because I had my official email address changed with the school, so we'll see if I get a notice. I'll probably try and email the KWEST leaders this morning.

**Update**: Now that I look at the KWEST website, it says trips will be assigned from June 15th - July 1st, so no need to worry yet.

One other question, when do you think we will see something about class waivers and registration?

I received an email through my Kellogg address. The email didn't say that everyone had been assigned as of yet, although I was assuming that was the case. You may still want to email Mia or someone else on the KWEST team, even though the website says trips aren't assigned until later.


I've been wondering the same thing myself.

I found the following information regarding waivers:

https://www.kellogg.northwestern.edu/med ... erinfo.htm

Also, for finance-1, waiver information is here:

https://www20.kellogg.northwestern.edu/d ... alogid=489

Wow, big Kellogg day for me yesterday. Got my KWEST assignment (#2 choice, which was expected) and summer course assignment (getting into Negotiations helps me get over that 8:30am Turbo Finance).

Of course, with the positive developments arrived my first bill.

Nice, Negotiations will be a blast.