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-   -   Signing Bonus and State Taxes (https://www.askmehelpdesk.com/showthread.php?t=24738)

  • Apr 16, 2006, 04:43 PM
    jayzeedl
    Signing Bonus and State Taxes
    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!
  • Apr 16, 2006, 09:09 PM
    AtlantaTaxExpert
    Negative. You earned the money (to include the bonus) in NY/NYC, and they both will want their share.

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