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| - quote - > I am living in CT and I am to work in NYC. Assume that I
I think you need to contact a tax professional in your area> 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. for assistance. This is a rather complicated item for the board. Bruce Raskin, CPA Small Business and Individual Tax and Accounting Services << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| 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 > << -------------------------------------------------> |
| Tags |
| living, nyc, working |
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