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Old 08-05-2004, 08:47 PM
BRaskinCPA
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Default Re: Living in CT and working in NYC

- quote -

> I am living in CT and I am to work in NYC. Assume that I
> earn 60K/Year at my NYC(4.0% to 6.85%) Job. I believe that
> I have to pay NY state tax for 60K/Year as a Non Resident.
> And again I have to pay CT state tax (3 to 5%) for 60K/Year
> as a resident. But I am allowed to take credit for the tax I
> payed for NY. Is it True?
> Can I take credit for the full amount that I paid in NY? or
> just a portion of it?
> Or will end up paying tax for both the states ? (Dual
> taxation)
> Considering the credit, If I have to pay tax to CT when the
> CT Tax amount is more than the NYC tax amount , which is not
> the case, when I file my return to CT I will end paying
> nothing to CT as tax.


I think you need to contact a tax professional in your area
for assistance. This is a rather complicated item for the
board.

Bruce Raskin, CPA
Small Business and Individual Tax and Accounting Services

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  #-1  
Old 07-29-2004, 11:01 AM
PGVIJAY
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Posts: n/a
Default Living in CT and working in NYC

I am living in CT and I am to work in NYC. Assume that I
earn 60K/Year at my NYC(4.0% to 6.85%) Job. I believe that
I have to pay NY state tax for 60K/Year as a Non Resident.
And again I have to pay CT state tax (3 to 5%) for 60K/Year
as a resident. But I am allowed to take credit for the tax I
payed for NY. Is it True?

Can I take credit for the full amount that I paid in NY? or
just a portion of it?

Or will end up paying tax for both the states ? (Dual
taxation)

Considering the credit, If I have to pay tax to CT when the
CT Tax amount is more than the NYC tax amount , which is not
the case, when I file my return to CT I will end paying
nothing to CT as tax.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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living, nyc, working
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