[letsgomets36]

If I live in New York City but work in New Jersey (and my pay is roughly $47,500), how much would be deducted from New Jersey State, New York State, and New York City taxes?

Do I get taxed twice -- one from New York, one from New Jersey?

Thanks

[AtlantaTaxExpert]

You must file two state tax returns, one for NJ and one for NY.

You will PAY NJ, because that is where you work.

You will also PAY NY, but not as much as you think, because NY will give you a credit for the taxes you paid to NJ.

It may be a bit comp0licated for you, but any competent tax professional in either NJ or NY knows EXACTLY what to do to make sure you do NOT pay taxes twice on the same dollar earned.

I have a number of NJ/NY clients, so I could do your returns (federal, NY, NJ) rather easily. I have references, so if yo are interested, contact me at [email protected].

You will find my fees most reasonable.

[Visa Taxes Expert]

Hello

You pay state taxes, in the state where you work.

If you work in NJ, you pay NJ taxes.

Hope this helps!

[AtlantaTaxExpert]

VTE:

NY state tax rates are HIGHER than NJ, so, in this case, he will pay taxes to BOTH states, not just NJ.

Now, if he lived in NJ and worked in NY, he would pay ONLY NY state taxes. He would file a NJ state tax return, but the ctax redit from his payment of NY state taxes would be so high that it would completely offset any NJ taxes owed.

[MukatA]

1. New York is letsgomets36's Home State. So he must file tax return for the Home State.

2. letsgomets36's earned income from NJ sources while in NJ, so must file NJ tax return as nonresident and pay taxes there.

3. On the resident return for NY, letsgomets36 will claim credit for taxes paid in NJ. Net result: he will pay some taxes in NY if NY tax rate is higher than NJ tax rate.

[AtlantaTaxExpert]

Agreed!