I just moved to N.J., I work in N.Y., I changed my address a while back and my employer does not take out NJ tax. I'm not sure as to what State tax form i have to fill out. Also note that I'm interested in attending school, but i have to fill fill out a N.J. residency form for any tuition.
2006-12-13 11:00:52 · 5 answers · asked by asanchez347 1 in Business & Finance ➔ Taxes ➔ United States
You will be filing in both NY and NJ. Since you moved from NY to NJ during the year, you will be filing as part year residents in both states. However, since you work in NY, all of your wages are taxable for NY state taxes. The portion of your wages that you earned while living in NJ will be taxable in NJ. The NY taxes on that portion of income that is taxed by both NY and NJ can be claimed as a credit against your NJ state taxes.
2006-12-13 15:07:01 · answer #1 · answered by jseah114 6 · 0⤊ 0⤋
Most states with an income tax levy tax on income earned in the state and all income earned by residents, regardless of the source. There is usually a credit available in your state of residence for taxes paid in your state of employment. As a result income subject to tax in more than one state is effectively taxed at the higher of the two rates. You will have to file returns in both states. The process is not difficult, but you may want to consult a professional the first time until you understand the forms. Perhaps your employer is not withholding NJ tax because a credit for NY taxes paid would eliminate your NJ tax on that amount.
2006-12-13 12:11:26 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Talk with a CPA in Zoo Joisey. Since you live in NJ and work in NY, you should be paying NJ state tax for the time that you have resided in NJ. Before that, you should be paying state tax for whichever state you lived in before.
Most CPAs know how to deal with preparing taxes in the states surrounding the one where they practice, but check with several CPAs near you in NJ.
2006-12-13 11:07:10 · answer #3 · answered by Peter S 3 · 0⤊ 0⤋
Talk to a tax consultant.
But most likely you will have to file in both. Don't worry you only pay taxes for the earnings in one. I'm guessing N.Y. taxes are going to be the majority this year, it might change next year.
2006-12-13 11:05:22 · answer #4 · answered by compgeekdotcom 2 · 1⤊ 0⤋
You pay state tax for whatever state you work in.
2006-12-13 11:08:37 · answer #5 · answered by freakyallweeky 5 · 0⤊ 0⤋