NY Resident Credit

Forum|Forum|2 years ago
April 8, 2024
1 reply
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Hi everyone! I live full time in New York State but work in Connecticut. I finished my Connecticut return and started my New York filing. I was surprised to see that I owed nothing in NY taxes as my job only withholds for CT. In a reviewing stage it said that my amount owed was wiped out by a resident credit. Could this be correct? I paid taxes to NY each of the last two years so this is surprising to me. Any direction or help would be greatly appreciated. Thank you!

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Vanessa A

Yes, it is possible. If the CT tax on the income you earned was higher then the NY tax on the income you earned, you would not owe anything to NY.

NY will give you a credit for taxes paid to another state. The credit cannot be more than the what you owe to your resident state, but they can wipe out your taxes.

Is the amount of the credit, the amount you paid to CT? If so, all is good.

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