How would you interpret this code?

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  • taxea
    Senior Member
    • Nov 2005
    • 4292

    #1

    How would you interpret this code?

    Income taxes by the State; (a) Residents. The tax imposed by this chapter applies to the entire income of a resident, computed without regard to source in the State.

    Does it say:
    1. all income that the resident receives while resident of the State
    or 2. all income that the resident receives from any business, trust, etc located in the State
    or 3. something else altogether.
    Believe nothing you have not personally researched and verified.
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    Entire income

    ...the entire income of a resident...

    Comment

    • Gretel
      Senior Member
      • Jun 2005
      • 4008

      #3
      ...same as world wide income for IRS for residents of US.

      Comment

      • taxea
        Senior Member
        • Nov 2005
        • 4292

        #4
        yeah, I just wondered if the phrase source income in the state would make anyone think this is saying that only income that is from a state source, rather than from an out of state source, is taxable by the state
        Last edited by taxea; 04-05-2010, 03:25 AM.
        Believe nothing you have not personally researched and verified.

        Comment

        • Burke
          Senior Member
          • Jan 2008
          • 7068

          #5
          I see where you are coming from. Bad grammar. Should say "entire income of a resident in the State, without regard to source."

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