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kickbckrelax
Feb 10, 2007, 12:41 PM
I am currently moving to the New York area and am wondering which is cheaper: New Jersey Income Tax or New York State/City Income Tax?

Just from looking at rates published online, New Jersey is definitely cheaper; however since I will be based and working in NYC everyday is New Jersey still significantly cheaper? Doesn't NYC apply its tax rates to workers who are based in the city regardless of their residency? If that's true, at what rate does NY state and city tax the worker? Is it a reduced rate?

Any help is appreciated.

Thx,
CM
AtlantaTaxExpert
Feb 10, 2007, 10:48 PM
CM:

If you work in NYC, but live in NJ, you will pay NY state taxes FIRST. NJ will give you full credit for paying those taxes, and you will NOT have to pay NJ taxes as a result.

Tax-wise, IMHO, working in NY and living in NJ is the way to go!