do you still need to pay NY state income tax if moved to FL/TX
My understanding is as long as your job is based in NY, you have to pay NY state income tax, even if you work from home in other states, correct?
My understanding is as long as your job is based in NY, you have to pay NY state income tax, even if you work from home in other states, correct?
| +98 | KISSED MY VP… HELP!!! | 16 | 14h |
| +34 | Wall Street’s premier CoC clan | 8 | 4h |
| +28 | ADHD & Living This Life | 7 | 2d |
| +26 | How expensive is SF? | 14 | 1d |
| +19 | Would you / have you payed someone for a role in IB? | 9 | 3d |
| 0 | What is a tool that you wish you had and would use every day? | 3 | 16h |
| 0 | Future of New York as number 1 financial centre | 1 | 6h |
Career Resources
Following...
Yes, if you still "work" in NY than your employer will file as NY income (check with CPA, but maybe some advantage on non-NY income like interest/dividends/cap gains/etc. not sure but there always tax games).
The key is "transferring" to your employers Florida office!! Then they will file as FL income which magically subject their onerous 0% income tax. The bottom line is your employer needs to be on board (and have a FL office) to make this work (at least that is how I understand it.....)
You pay NY state yes, but not the city tax (assuming you left Manhattan). Latter is based on residency vs employment location.
I feel like I am going to get double whammied on taxes. Born and raised in NYC (am a NY resident) but my FT is in CA. So will I have to pay NYC taxes on top of Cali Taxes?
Are you living in NYC at the moment and working remotely at a job in CA? If not just declare CA (or wherever you're actually living) residency.
I was in NYC for a month into work, still have NY residency now in CA. Need to switch. My only concern is that I don't know how hard it is to switch back because I only intend on being in CA for 1-1.5 years and then move back home
Is this true? I was under the impression it’s not where your employer is located, but where you worked for that job. So if you lived in some other state all of last year for example but your office is in NYC, you’d file in that state and not NY.
It’s where the work happens. I live/work in TX but have had to file nonresident taxes in other states when I did extended amounts of work there (it credits against your home state taxes… which unfortunately didn’t do anything for me)
I talked to a managing partner at a major professional services firm who said they file taxes in almost every state because “some” of their income happens in every office across the country
I don't think this is true. My summer internship company was in Ohio and I was working remotely from Florida. HR told me to update my location and rebate me the income tax that was deducted from my paychecks.
Magnam rerum eos quisquam velit aut possimus. Odit aliquid et et exercitationem cupiditate. Fugiat vero ut sint nesciunt. Magni aut non iure eius voluptas. Enim necessitatibus aut tempora iure officiis nihil. Labore laudantium ratione dolor et quis.
Deleniti cupiditate facere nemo ut quis tempora. Nesciunt harum quia aut dolor nesciunt et. Pariatur mollitia qui possimus provident labore consequatur animi dolorum. Velit excepturi consequatur sed magnam.
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...