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jayzeedl
Apr 16, 2006, 03:43 PM
Hi,

I am currently at school in Illinois. In summer 2005, I interned at a firm in New York City. After my summer, the firm offered me a job (that I accepted) and the terms include a healthy signing bonus. Thus my W2 shows a consolidated number that includes my stipend for the summer and my signing bonus.

However, my firm did NOT deduct any state taxes from from my wages.

I was wondering if it is possible to exclude the signing bonus from the NY State wages since it is not related to any service I performed in NYC (other people who did not intern got the same bonus when they got offers). The firm itself is global. This would save me a lot of money in taxes.

Thank you for your help!
AtlantaTaxExpert
Apr 16, 2006, 08:09 PM
Negative. You earned the money (to include the bonus) in NY/NYC, and they both will want their share.