2007-02-11 19:56:43 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You will be taxed at your federal rate, and at the NYS rate. You do NOT have to pay NYC tax (there use to be a commuter tax, but that was overturned). You will be responsible for NJ taxes, but you can use the money that you paid in NYS tax to cover it. The "scam" is that NYS does NOT return the difference (NYS>NY tax). So in fact you DO pay a commuter's tax.
2007-02-12 00:57:37 · answer #1 · answered by NYC_Since_the_90s 6 · 0⤊ 0⤋
Rather a lot, I'm afraid. NYC taxes everyone and there are no double-taxation agreements to save you. You will also have to pay NYS taxes, including disability which I think is a whopping 60 cents a week unless your employer has a private plan. You should not have any NJ taxes taken out, but you will have to report the income to NJ as well as NY. You will get a credit on your NJ return for tax paid to NY. You may, however, find that you owe taxes to all by the time you are done. That is a situation my wife and her ex found themselves in for many years. He worked in the city too and lived in the beautiful Garden State.
2007-02-12 07:02:40 · answer #2 · answered by skip 6 · 0⤊ 1⤋
Hopefully enough to cover your tax liability. Without knowing ALL of the facts involved, there's no way to fix a dollar or percentage amount.
2007-02-12 04:01:46 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 1⤋