Communting, TAX
Just a question, let's say if I work for a firm in NYC, but commute from CT/NJ, do I still need to pay the NYC tax? Do I get taxed based on NY State Tax or CT/NJ tax?
Trending Content - Investment Banking Forum
| +194 | UBS preparing for a October Layoff Massacre | 177 | 1h |
| +83 | Work and Suicide | 37 | 24m |
| +57 | A Message to Students Who Think this Job Will Fix Their Life | 12 | 18m |
| +52 | Is 7 years in banking enough to retire, or am I delusional? | 31 | 7h |
| +47 | Do actual investment bankers despise IB TikTokers as much as I think they do? | 28 | 21h |
| +32 | UBS IB Balance Sheet Set to take a Hit | 9 | 6h |
| +27 | Should I escape the matrix | 5 | 1d |
| +26 | Negotiating VP Sign-On Bonus (NOT Tied to Deferred Comp)? | 23 | 6h |
| +23 | LevFin, First Interview (Ever) Help! | 5 | 1d |
| +21 | JPMorgan Banker Hospitalized | 7 | 2d |
Career Resources
didnt you go to college, its kinda sad you dont know that
fuck you I dont go to a trade school..ahem.. i mean business school like you do. Btw, I come from a state with no state tax, so it's not like I ever had to deal with anything other than federal tax my whole life.
Tax issues such as this are not taught in college. If you work in NYC you have to pay NYC taxes. I believe you get credit from the state you live in for the tax you pay to the city, but don't quote me on that.
If you live outside of NYC - you don't pay NYC (local) tax, but your pay will still be taxed at the NY State Rate.
The NYC tax goes further than paying the overpaid and underworked union employees - but it helps make NYC a great place to live. NYC rents have come down significantly - it's tough to justify living in NJ or CT if you're junior and in a front-office role.
I was completely wrong, sorry.
DEPT of NY Taxation
"Question
I don’t live in New York City, but I earn income there. Am I subject to a New York City income tax?
AnswerNo, as long as you are not a New York City resident.
For the definition of a New York City resident, see the instructions for your income tax return."
anthony is right, the nyc tax is a RESIDENCY tax, so if you live outside(Westchester, Greenwich, etc.) it does not apply
u can evade taxes no matter where you live
Ratione consequatur consectetur iusto repellat ut. Ad natus et nam rerum dolor architecto velit. Autem dignissimos dolorem asperiores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...