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    jsmythe's Avatar
    jsmythe Posts: 2, Reputation: 1
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    #1

    Apr 10, 2007, 04:07 AM
    Which NY TAX line item for NJ Credit for other juris.
    NJ Resident married, two incomes, one income from NY state. For NJ Taxes, in calculating the credit for taxes paid to other jurisdiction, I have lately been confused about what the "NY State Amount" really is. NY calculates the "NY State Taxable" income using the combined incomes,less deductions, taxes it at that rate then applies the ny/total ratio. The "NY Taxable Income" if used in the NJ calculation for credit would yield a better fraction since it is a larger number than the actual income earned in NY. The instructions say to enter the amount actually taxed or the NY State Taxable amount. It is a little hazy from all the gyrations NY did to squeeze the most taxes out of a taxpayer. What is the correct value to use here?
    jsmythe's Avatar
    jsmythe Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Apr 10, 2007, 05:09 AM
    Answering my own question. There's an example in the pdf on which "numerator" to use. :( unfortunately you have to use the smaller number.

    NJ State Tax Info
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Apr 18, 2007, 08:44 AM
    On Form IT-203, there IS a NY Taxable income listed; cannot remember which line. THAT is the figure you use.
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