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    jlm1955's Avatar
    jlm1955 Posts: 4, Reputation: 1
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    #1

    Jul 26, 2012, 04:56 PM
    1099 contractor, Florida Resident, living in NYC
    I am a 1099 contractor. My perm resident is Florida. I was thinking about living in NYC for 6-12 months (maintaining my Fla residence). Do I need to worry about NYC/NY taxes?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jul 26, 2012, 04:59 PM
    Yes, you do.

    For the state, income earned inside ANY state's borders are subject to that state's income taxes (if applicable) unless there is a reciprocity agreement between state. No such agreement exists between New Yrok and Florida.

    NYC will also consider you to be a part-time resident of NYC if you live within city limits and thus be subject to NYC income taxes.
    jlm1955's Avatar
    jlm1955 Posts: 4, Reputation: 1
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    #3

    Jul 26, 2012, 05:14 PM
    Quote Originally Posted by AtlantaTaxExpert View Post
    Yes, you do.

    For the state, income earned inside ANY state's borders are subject to that state's income taxes (if applicable) unless there is a reciprocity agreement between state. No such agreement exists between New Yrok and florida.

    NYC will also consider you to be a part-time resident of NYC if you live within city limits and thus be subject to NYC income taxes.
    I assume the same applies to Brooklyn. Where would I find the NYC and/or Brooklyn income tax rates?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Jul 26, 2012, 05:58 PM
    I looked it up the other day; the tax rate is about 3.65%.

    Brooklyn IS part of NYC.
    jlm1955's Avatar
    jlm1955 Posts: 4, Reputation: 1
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    #5

    Jul 26, 2012, 06:17 PM
    Quote Originally Posted by AtlantaTaxExpert View Post
    I looked it up the other day; the tax rate is about 3.65%.

    Brooklyn IS part of NYC.
    Thanks for the information, sorry but I got one more question. As a contractor, I can deduct my expenses for federal income taxes. Are NY and/or NYC taxes based on gross or net (after deductions). I'm at least hoping that my federal taxes would be a deduction (so I do not have to pay NY/NYC taxes the US taxes :-)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Jul 26, 2012, 06:56 PM
    The FEDERAL taxes paid are NOT a deduction.

    However, BOTH the NYS and NYCincome tax is based on the net income from the Schedule C.
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