wcui
Mar 16, 2009, 12:34 PM
Hi, I'm working in New York and will be arriving with an E-3 visa status, what is the tax obligation like? City tax, state tax and income tax? What are the treatments on my foerign assests that's earning me an income outside of U.S, am I subject of global tax? Tks
MukatA
Mar 17, 2009, 02:21 AM
Your E-3 income is subject to SS tax, Medicare tax, and income taxes.
Depending upon when you entered the U.S. you will file nonresident return, dual status return or resident return for the first year. Read Your U.S. Tax Return: Substantial Presence Test (http://taxipay.blogspot.com/2008/04/substantial-presence-test.html)
If you are filing resident return, then you must disclose your worldwide income. Read: Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income (http://taxipay.blogspot.com/2008/03/us-citizen-or-resident-with-foreign.html)