Ask Experts Questions for FREE Help !
Ask
    jmwall's Avatar
    jmwall Posts: 3, Reputation: 1
    New Member
     
    #1

    Jan 6, 2009, 10:50 AM
    Taxes paid in CO and NM
    Last year the company I work for in NM withheld $1647.00 throughout the year. At tax time after filing I ended up paying NM $1772.00, and CO, which I am a resident of, $506.00. Colorado gave me a credit of $1483.00 but NM would not give me any credit. They stated that I was a "resident" as far as they were concerned. But when NM gave rebate checks I did'nt get one because I wasn't a "resident." Colorado states NM is engaging in double taxation and pretty much told me not to file in NM. NM states I have to file because the income is generated in the state. Does anyone have any suggestions on what I should do. I really don't want to pay over $2000. In state taxes again.

    Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Jan 6, 2009, 06:10 PM
    You are NOT a residnet of NM, but you pay taxes to the state in which you work; you get NO credit from them.

    You claim the credit for the working state taxes on your residence state taxes. That has been done. The fact that the credit is NOT as much as the taxes paid probably has to do with the varying state tax rates.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Deducting taxes paid for a new car [ 2 Answers ]

We bought a new vehicle in 2007. What can we deduct from our taxes regarding the amount paid for tax, title, and license?

Opt to H1b:fica taxes not paid [ 7 Answers ]

Hi Tax Experts I am an Indian national. Came to US on F1 in Jan04. Graduated with MS in aug 06. Was working in opt till oct07 and from oct 07, H1b. My questions: 1. My HR did NOT deduct my SS and medicare taxes from oct07 to dec07. How can I pay that to IRS? 2. after going through this forum I...

Early Withdraw - 401K Taxes Paid vs. Taxes Owe [ 7 Answers ]

Last year I took a early withdraw from my 401k last year after leaving my job. I had 30% withheld for Fed. Taxes. I am getting ready to have my taxes prepared. I have several questions. 1. Was 30% enough? Does 10% penalty still apply? 2. I live in the state of IL. Will I owe state taxes? ...

No taxes paid for this year [ 4 Answers ]

Hello, I'm new in the small business an horrified of the coming tax filing. I didn't pay any taxes beforehand and I'm afraid that I'm in trouble with it. I have had ONLY expenses not any income yet. What I should do? :confused:

Federal Taxes paid in [ 4 Answers ]

How can I find out if my previous employer has paid any of the taxes they took out of my checks? Thanks! Just curious


View more questions Search