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This is a pretty simple question. If I work in New York City but live in Stamford CT, do I still have to pay NYC and New York State tax of 12% or do I get CT tax.
Is there any way to avoid these taxes if you work in NYC.
btw how can people live in NYC and pay that much tax! ouch.
You will pay the NYS income tax because you work in NYS. You don't pay NYC income tax. Since about 2002, only NYC residents have that privilege.
You have to file a resident state return in CT and a non-resident state return in NYS. You'll get a credit in CT for what you've paid to NYS, which is more than the total tax liability in CT, so you don't pay CT anything.
When I left NYC for Mass., my take-home went up $500 a month even with a "pay cut" because state taxes were so much lower than what I paid in NYC.
We have this scenario - work in NYC and live in Stamford. You pay NY and the money gets 'transferred' to CT - but you have to file both state returns for it to happen. Wasn't too hard. The hardest part was filling out the state tax worksheets when I started my job - very confusing for some reason.
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