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Hutch007
Mar 19, 2009, 08:57 PM
I'm filling out an IT-203 for NY state and I'm frustrated that I only made $30.000 in the state in six month, but they are taxing me for $40,000. They ask questions about how much money was made in NY and then on line 32 ignore the NY income and just pull the Federal income into the final tally. What to do? Am I missing something?

Thanks
Confused with the NY IT-203

ebaines
Mar 20, 2009, 06:13 AM
They require you to report your full income for the year in order to determne what tax bracket you belong in. So first you determine the tax that would be owed if you lived in NY all year, then multiply that amount by a percentage that refects the portion of your income that's actually from NY sources. So in your case you figure tax on $40K, then multiply that by 75% to get your final NY tax figure - this happens on line 45 of your IT-203.

Hutch007
Mar 20, 2009, 08:28 AM
They require you to report your full income for the year in order to determne what tax bracket you belong in. So first you determine the tax that would be owed if you lived in NY all year, then multiply that amount by a percentage that refects the portion of your income that's actually from NY sources. So in your case you figure tax on $40K, then multiply that by 75% to get your final NY tax figure - this happens on line 45 of your IT-203.

Thank you.