Taxes for a NJ resident working in NYC

lmelsayed · #1 Feb 7, 2008, 04:55 PM

As a NJ resident who works in NYC, what would be my withholding taxes? How is it different from living in NJ and working in NJ?

ebaines · Feb 8, 2008, 09:43 AM

The amount withheld is dependent on your salary and how many exemptions you claim, but for planing purposes remember that NY's income tax rates are a bit higher than NJ's - depending on your income you can plan on paying about 6.5% to NY State, whereas if you worked in NJ the rate would be more like 5.5%. So if you could find an equivalent job in NJ you would come out ahead, plus you would probably save substantially on commuting costs.



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