New York Return

[S T]

Okay - I have a part year NY return - the ones I have prepared in the past have been pretty easy, this one has some issues. But what I am down to is

part year - moved into NY in 7/08 employed - lives in Manhattan -

Works for Goldman Sachs also in NY City - so this taxpayer is subject o Ny City tax, correct based on the NY source income for the period of 7-1-08 to 12-31-08?

Surprising that GS did not deduct any NY City Tax - only NY State Tax - so t/p should have GS deduct NY City out for the rest of 2009 or pay estimated tax - correct?

I thought Calif was bad - NY is worse

Thanks Uncle Sam, Don Priebe and BW in advance for your responses and anyone that I missed naming.

I think I am just needing some confirmation

Sandy

[Uncle Sam]

New York Return

You need to complete an IT-360.1 for a part year NYC resident.
Did your client let GS know he was a NYC resident?

[New York Enrolled Agent]

Works for Goldman Sachs also in NY City - so this taxpayer is subject o Ny City tax, correct based on the NY source income for the period of 7-1-08 to 12-31-08?

The taxpayer is subject to tax not because he worked in NYC but because he lived in NYC. As a resident, your taxpayer will be taxed on ALL income during the period of residency. Income from non-NY sources such as interest, etc. will be taxed for the resident period.

[S T]

Nyc

Thanks Uncle Sam and NYEA
T/P notified GS to start withholding NYC.

Sandy

[Nashville]

City Taxation

The taxpayer is subject to tax not because he worked in NYC but because he lived in NYC.

NYEA if I understand this correctly, New York City does not tax commuters from CT, NJ, or for that matter White Plains. Unlike state taxation, it applies only to residents and not to workers out-of-jurisdiction?

For those of you involved in Local income taxes below the state jurisdiction level: Is this customary to tax only your own residents and exempt commuters?

I'm not good at City/County taxes. In the south we don't have these except for a handful of towns in Alabama. But I believe they may be the "wave of the future" as cities upgrade their information systems. The thing holding them back thus far is that they cannot accommodate enough rate structure to pay for the administrative costs.

[travis bickle]

Since you asked,

For those of you involved in Local income taxes below the state jurisdiction level: Is this customary to tax only your own residents and exempt commuters? .

No. The cities I have routinely worked with [Philadelphia, Kansas City, etc] tax anyone that lingers in their sights.

Does not help your particular situation, but I have generally found the city returns to be simple -- usually only a straight 2 or 3 % of income.

[New York Enrolled Agent]

NYEA if I understand this correctly, New York City does not tax commuters from CT, NJ, or for that matter White Plains. Unlike state taxation, it applies only to residents and not to workers out-of-jurisdiction?

Nashville - you are correct. At one time NYC had a "commuter" tax that taxed the wages of non-residents who worked in NYC. But that is no longer in effect.

[BOB W]

Nashville - you are correct. At one time NYC had a "commuter" tax that taxed the wages of non-residents who worked in NYC. But that is no longer in effect.

That is correct, employees do not pay a city tax for working in NYC.

While unrelated, now NYS is taxing the employers for wages paid in NYC and surronding counties. It is based on the gross pay for all employees at .0034 with no limit on gross payroll and paid by the employer quarterly.