Questions tagged [state-income-tax]

For questions relating to state income taxes. For most questions, a state-specific tag should also be included.

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2
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1answer
69 views

How do I know whether to classify HSA income as dividend or interest?

I live in California, where the interest and dividends earned in an HSA are taxable. They need to be reported on the Schedule CA (540) on line 2 (taxable interest) and line 3 (ordinary dividends). I ...
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1answer
77 views

How do I handle US State Income Tax for the 2020 COVID-19 Coronavirus Filing Extension

While the IRS has a page on the Coronavirus impact is there any resource on handling the various State Income taxes. Are they extended like the Federal Income tax or do I have some relief due the ...
2
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1answer
22 views

What is the income tax exemption proration policy for Massachusetts part-year residents?

I moved to Massachusetts in the second half of 2019 and started a new job. I'm trying to calculate my exemption for the 2019 tax year. The "2019 Massachusetts Nonresident or Part-Year Resident Income ...
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1answer
89 views

Can my employer's payroll company be liable for not withdrawing enough State taxes from my income? [duplicate]

My employer's payroll company did not withdraw the correct percentage of state taxes from my year's worth of paychecks. I'm now liable for $2,000 in state taxes. Can the payroll company be held ...
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0answers
23 views

Income tax on property sale through LLC in another state

I was a small-time partner in an LLC that was set up to flip a house in NJ, and I live in MA. The LLC was set up in NJ, bought the old property, flipped it, and sold it. I received a K1 from the LLC. ...
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1answer
48 views

Tax implications of working from another state due to coronavirus

I work for a company in California which is recommending all employees work from home because of the coronavirus pandemic. I am thinking about working from Michigan instead as an opportunity to visit ...
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0answers
16 views

West Virginia or New Jersey state income taxes

I live in Texas. I receive oil and gas royalties income from my properties in West Virginia. I have the 1099-MISC. The company that sent me the 1099 MISC is located in New Jersey. What state do I ...
4
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1answer
168 views

I work remotely for a company in another state. Both states are witholding taxes from my paycheck. Is this right?

I live in Pennsylvania. I work full time 100% remotely for a company that is located in Connecticut. On my first paycheck I was surprised to find that I was having state income tax withheld by both ...
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0answers
24 views

Residency Questions for International Student while filing Tax

I am an international citizen. I studied in New York City in 2019. I interned in California during the summer for about 3-4 months. On December 25th, I left NYC for my home country and returned to ...
1
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1answer
32 views

As a Self Employed LLC filer living in NYC. How can I estimate my taxes? Is there a Tax filing form simulator I can input numbers into?

I have the following example values of: Self Employed LLC Income: 50K (Computer Repair Business) Married filing jointly 2 children No mortgage or property. We rent. Paying for daycare - $800/month. ...
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0answers
36 views

US Citizen living permanently abroad working for US company vs State and Local taxes

I am US and EU citizen and I am going to start working remotely from EU for US company. It's going to be a full time employment (w-4/401k etc). Am I required to pay state and local taxes (NY in this ...
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1answer
122 views

Why does New Mexico (apparently) require withholding more income than is required to cover state income tax?

New Mexico has four tax brackets, which for married filing jointly breaks down as (at least in 2019): 1.7% for $0-$8000, 3.2% for $8001-$1600, 4.7% for $1601-2401, and 4.9% for $2401 and above. I'm ...
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1answer
63 views

Break-even for itemized deductions in Maryland

The federal standard deduction for married filing jointly in 2019 is $24,400. The Maryland state standard deduction is only $4,550 and you cannot itemize on your state return unless you itemize on ...
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1answer
44 views

Bought first home in another state while renting and working in another state ( bought in New York while renting in Connecticut)

I bought a house with my father in New York City while I live and work in Hartford Connecticut and I'm not sure where I need to file taxes as considering my primary residence. I appreciate your advice!...
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1answer
79 views

What percentage of CA state income tax may I assume is local?

I am a NRA in Columbus, Ohio. I am trying to file my Columbus income tax. Having had an internship in Palo Alto, CA for 3 months in summer my CA W2 from internship shows no local taxes paid. Therefore ...
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0answers
52 views

Why is NYS supplemental rate so high?

For 2019 the NYS suplemental withholding rate was 9.62%. However the maximum tax bracket in NYS is 8.82% for 2019. This means that even for the highest earners the withholding will be too much and ...
2
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1answer
69 views

Is interest “earned” in an HSA even without taking any distributions?

I live in California. During 2019 I contributed to a Health Savings Account; I didn’t take any distributions. I’m reading the 2018 instructions for Schedule CA—the 2019 instructions don’t seem to be ...
2
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1answer
193 views

Why did TurboTax underestimate my California state taxable income?

I just received two bills from the state of the california franchise tax board saying that my state tax for 2015 and 2016 are missing a few thousands plus interest. The reason was that turbotax way ...
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0answers
59 views

NY & Federal Quarterly tax payments for someone with Fulltime job and a side gig?

In 2020 I want to start paying estimated quarterly taxes but I am not sure exactly how to calculate the amounts. If I make X$ yearly income from my full time job have maximum withholding. I also ...
2
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0answers
84 views

Does a state tax credit received as a gift count as income?

I have received a state tax credit for a historic rehabilitation project, which for a fixed fee the state of Arkansas allows me to partially sell/transfer. Whoever has the credit has up to five years ...
1
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1answer
106 views

State Tax Error

I completed the paper work with my new employer to have state taxes deducted from my pay. The employer enter the information into the ADP system and the ADP screens indicate that state taxes to be ...
3
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0answers
66 views

Using a US state for payroll while not being a resident

I'm an American currently living in France with my wife (also an American). She has a part-time job working remotely for an American company. This company uses a US-only payroll company, so my wife ...
0
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1answer
38 views

Claiming tax exemption to use the funds for Capital Investment

I currently work as a server/bartender, and saving up to get a food truck off the ground. Suppose I claim tax exempt on my W-2 (with the restaurants I work for) and use 70% of gross funds for Capital ...
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0answers
48 views

How would investing in real estate (REIT or similar) affect my tax situation in the U.S.?

My wife and I are in our 30s and bought our first house this past year. We don't expect to have enough money to buy a rental property or another house in the foreseeable future, but we are ...
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0answers
54 views

Approximate tax savings if NYC employee moves residence from NYC to NJ?

How much would an employee expect to save on tax bill by moving residence from NYC to NJ, approximately? Assume $200,000 income, single, no dependents, $0 for everything else (IRA, 401k, investments, ...
2
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1answer
68 views

How do I determine US state residency and income source for income tax filing?

This year I have a somewhat tricky situation for state income tax filing (US). I am a professor at a university in Colorado, but I'm spending the academic year in Connecticut on sabbatical leave, ...
3
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1answer
64 views

State income taxes when traveling to another state

I live and work in CA for an employer in San Francisco, but I travel often to FL and work there remotely for a total of perhaps 2-3 months a year. Am I supposed to pay state income taxes to CA during ...
0
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1answer
73 views

Clarification on State Income Tax

I live in the StateA and work in the StateB as a Contract Employee. Every day, I commute to my work. My Employer ( Contract Holding Company ) operates from StateC. My clarification is, Whether my ...
6
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1answer
2k views

Does the amount owed listed in my account on irs.gov include both federal and state taxes owed?

I don't see any kind of indication of whether the amount owed listed in my account on irs.gov includes both federal and state or just federal. I've received letters in the mail about how I owe state ...
0
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1answer
98 views

Tax implications to sell my pre-IPO shares through Sharespost

Several years ago, I was granted some RSUs from a company and I'd like to sell those RUSs in Sharespost (sharespost.com). I want understand the tax situations here. Let's just say I paid those shares ...
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0answers
46 views

NYS Part-time return and Federal Foreign Earned Income Exclusion

I have a hard time to understand how to report the Foreign Earned Income Exclusion on New York State form IT-203 when filing as a part time resident. Specifically, I was living in NYC, accepted a job ...
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0answers
16 views

NYC Tax Rates on Educational Software

I've received consumer subscriptions, and now sending an invoice to a school, for an educational technology piece of software (a web based video game, non-downloadable), and am curious about NYC tax ...
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0answers
40 views

One spouse in community property state, other spouse in non-community property state, filing taxes jointly

I am a resident of California, a community-property state, earning my income in California. My wife is a resident of Oregon, a non-community-property state, earning her income in Oregon. We file taxes ...
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0answers
91 views

Maximize negative tax rate

I've been reading articles about people getting negative taxes, and am curious about how much someone can actually earn and still pay 0 or negative taxes. Suppose I have an LLC, and my wife and I are ...
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1answer
224 views

What should be my state tax withholding if I do internship in another state?

I am doing internship in New York but I live in California. I am also an international student (F1). Our country has tax exempt agreement, so I am eligible for federal tax refunds. During the ...
1
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1answer
161 views

How to get money back from tax filing in US?

I'm on a student visa in the MA, US. This year(2019) it was my first time filing for tax as I got the part-time job on-campus in my university. I submitted the tax form to a person who came to my ...
2
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2answers
343 views

Can a brokered CD still count as “Massachusetts Bank Interest” for income tax purposes?

On the Massachusetts income tax Form 1, line 5 is for "Interest from Massachusetts Banks". This interest income gets an amount deducted from it ($200 for married filing jointly), and is reported there ...
2
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1answer
280 views

How does Massachusetts tax selling US Treasury Bills before maturity?

If I buy a 4-week US Treasury Bill at auction and hold it to maturity, the interest I earn is state-tax-free. Just to put a number on it (even though I know rates aren't actually that high right now), ...
0
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1answer
54 views

new york state 529 k-12

https://www.nysaves.org/home/fe.html Under New York State law, distributions for K-12 tuition expenses are considered nonqualified withdrawals and will require the recapture of any New York ...
2
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1answer
90 views

Remote state taxes

I live in Florida and I work remotely to a New York office and I am being paid thru their payroll not 1099. The employer has been deducting NY state tax and I know Florida does not have state tax. I ...
4
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0answers
177 views

Foreign Earned Income Exclusion when working for a US company remotely

I'm a US citizen who lives and works in California. I've been looking at a possibility of working remotely and living abroad. My understanding is that when it comes to state taxes, you pay income tax ...
1
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1answer
139 views

Colorado 529 withdrawal income tax recapture and AOTC

In Colorado contributions to the state 529 plan are deductible from State income taxes. These income taxes are recaptured if a non qualified withdrawal from the plan is made. My husband (the ...
0
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0answers
59 views

Tax in India and UK

I came to the UK in March 2019. Due to other formalities, my bank account was opened in April 2019. So in March 2019 my Indian salary got credited in an Indian bank account after tax deductions. In ...
7
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2answers
534 views

Is it legal to move to a different US state before moving out of the country to avoid paying state income tax abroad?

Today I've learned that Americans have to pay state income tax based on their last residency address, even if they relocate overseas. So let's say you know you will be moving from the US to another ...
23
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6answers
6k views

Is the Standard Deduction better than Itemized when both are the same amount?

For 2018 the standard deduction is $12,000 for individuals, $24,000 per household. If someone's itemized deductions equals the standard deduction, or is very close, which one is better to take? For ...
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1answer
107 views

Why is California's income filing threshold GREATER than the standard deduction?

For California, the tax instruction booklet says that you need to file the income tax forms if your income is over $17,693 "gross" or $14,154 "adjusted". However, the state's standard deduction is ...
0
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1answer
152 views

Incorrect state on W-2 withholding

Working on TurboTax, and I notice that my W-2 shows my tax withholding for NC. I moved twice last year with the same employer as I move to work with their client. But seems my tax withholding didn't ...
0
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0answers
168 views

Can't file taxes probably due to ITIN -> SSN change

I get the following error while filing married filing jointly taxes in California via TaxAct (electronically, paperless): Rule Number: F540/NR/NRS/2EZ-230 Rule Number Description: There is an ...
0
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1answer
129 views

Can a nonresident alien claim the NY State Standard Deduction (2018)?

Can a nonresident alien (Form 1040-NR-EZ) claim the NY State standard deduction or does he/she need to claim itemized deduction (like on the federal return)?
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2answers
332 views

Am I a part-year resident or non-resident of the state of Illinois for tax purposes?

I am having some trouble determining my tax status for the state of Illinois. I was a J1 (short term scholar) in the state of Illinois for 3 months. From reading this piece of information for first ...

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