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    limr72's Avatar
    limr72 Posts: 1, Reputation: 1
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    #1

    Jan 25, 2007, 12:49 PM
    New York Nonresident Tax
    I live in NJ and worked in NY for 10 months in 2006. After my termination, I received several payments (stock exercises, non-qualied retirement) after I left the company that was considered NJ wages only (not NY because I was no longer working in NY) for 2006 (during Nov & Dec).

    My 2006 W2 for NY shows wages for NY matching the Federal Box 1 wages

    My 2006 W2 for NJ shows wages for NJ which are the same as NY except NJ doesn't recogonize FSA.

    My question is why does NY show the same value as Federal since I only worked 10 months in NY? Shouldn't the W2 show the amount of NY wages subject to NY state tax? Or do I have to manaully calculate the NY earnings on a form or worksheet?

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

    Jan 25, 2007, 07:19 PM
    Matt:

    If you got the stock option exercises and non-qualified retirement from your NY-based company, that is considered deferred compensation and the NY Department of Taxation considers it income earned IN NY!

    Sorry about that.

    Now, there IS an income allocation worksheet (IT-203-B). You may be able to make your argument about NJ vs NY taxes there, but I do not think so!
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