Is some or all of any business income generated from my Wyoming business qualify as New York source income while I'm physically present in NY?
I run an IT consulting firm (LLC with S-Corp Election) with offices and two employees in Wyoming and am a resident of Wyoming. I visit NY for 4 months in the summer and work from home (computer at the kitchen table). I receive a Salary (W2 wages) as well as business income. A portion of my time is billable.
My understanding is that the W2 wages are taxable in NY for the entirety of the period I'm visiting, but I'm not clear as to whether my business income generated during that qualifies as New York source income (and hence is taxable) since I don't have an office there. I've reviewed the instructions from the New York website, but am having trouble applying it to my scenario.
As a nonresident sole proprietor or partnership, you carry on a business, trade, profession, or occupation within New York State if you (or your business):
- occupy, have, maintain, or operate an office, shop, store, warehouse, factory, agency, or other place in New York State where the affairs of the business are systematically and regularly carried on; or
- perform a series of acts or transactions in NewYork State with regularity and continuity for livelihood or profit, as distinguished from isolated or incidental transactions.
I fully intend to review this with a CPA/EA, but am hoping to get a general sense of how things work before I start having to pay someone by the hour.