Question

non qualified plan deferred comp on W2 box 11

Forum|Forum|2 years ago
March 28, 2024
1 reply
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on form NYS IT 203 non-qualified comp is shown and reported on line 16 in federal column and accounted for computing tax for NYS. Question is should this be also shown in NYS column line 16? If so then NYS is taxing non-qualified comp along with federal and getting taxed twice. Is that correct?

After little bit of research, I found out its not taxable in NYS because it is considered federal income and derived from state sources and it will not be subject to NYS income tax, therefore should not be included in calculation of NYS tax percentage.

Please advise if I am doing correct by not including in NYS column line 16 on IT 203

Thank you for your help and advice.

Ask the Experts - Coinbase - Mar 2024

DaveF1006

To clarify, were you a non-resident of NYS for all of 2023? How did this distribution get reported? Was it on a W2 or some or another form?

[Edited 03/28/24|1:38 pm PST]

@mtang

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M

mtangAuthor

Non resident of NYS for full 2023 year . non-qualified comp is reported on W2 box 11 and included in Box 1 as total wages also.

R

RobertB4444

As long as your non-qualified plan is paid by either New York State or a local government then it is not taxable to New York and you are correct not to include it on the New York side of line 16.

@mtang

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