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    sunshinestate's Avatar
    sunshinestate Posts: 2, Reputation: 1
    New Member
     
    #1

    Feb 5, 2009, 09:26 PM
    Income tax implications owning home in NJ and working and renting in Florida
    Hello,

    I own a home in New Jersey and work in New York city. This has been the case for many years now. Thus, my tax returns have included Federal, New York Non-resident, and New Jersey (w/credit for taxes paid to other jurisdictions).

    However, my company is moving to Miami where we already have an office and I am one of the people staying with the firm and re-locating down in Miami while my family stays back in NJ with the home that I own. I presently have a NY and FL payroll for my company. I am due to start working in Florida on June 1, 2009. I plan on renting an apartment and coming home for weekends every couple of weeks or so. My question is: Since I will be paid via the Florida payroll and both working and living there, do I qualify to have zero state income tax withheld in accordance with Florida State tax laws? Does it matter if I rent vs. own? Do I need to maintain lodging for greater than 6 months in Florida to take advantage of tax laws? Do I have to file a pro-rated NJ tax return based on percentage of income from each state for tax year 2009? In general, what tax laws can I use to my advantage in my situation?

    Thank you for your help.
    Greg
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #2

    Feb 5, 2009, 11:05 PM

    Even if your company is located in Florida you will pay NJ and NY taxes.

    If you are present in a state, then any income earned during this period, must be reported to the state.

    You do not pay any tax to the state where your employer is located if you were not present in the state.

    To your resident state, you must report your worldwide income for the year. Read about taxes involving two or more states: Your U.S. Tax Return: Working or Living in Two or More states
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Feb 10, 2009, 04:22 PM
    Redundant post; already answered!

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