Submitted by [deleted] t3_yk6n2l in newhampshire
[deleted]
Comments
Beneficial-Hand4310 t1_ius6foe wrote
If the business is in ny, the work is done in ny, state income tax is due to ny.
Not a lawyer
cutefuzzythings t1_ius863y wrote
Thank you! It's no big deal I'll obviously do what I have to do. Was just curious if it would have been an added benefit!
ManchRanchSpecialist t1_iuri79i wrote
I don't think you'll find many people knowledgeable about NYS income tax laws in a subreddit for NH... Do you use a CPA or similar?
cutefuzzythings t1_iuriex0 wrote
I think people from NY or other states retire to NH so figured I'd try here! Yeah I can ask my accountant next time I see her.
ManchRanchSpecialist t1_iurixg5 wrote
Maybe an expert will appear. Mostly this sub is an unmoderated troll pit though, I wouldn't expect much of substance. Good luck!
FreezingRobot t1_iurl85z wrote
Yea, talk to your accountant. We're experts here on dealing with Massachusetts payroll taxes because we deal with it personally, but I'd be careful about the kind of tax law you're asking about. Definitely something to leave to the professionals.
PebblyJackGlasscock t1_iurl5wq wrote
Unless you pay for a really, really good attorney the state in which business is conducted is where that business owes taxes. You cannot change a mailing address to NH and duck NY state taxes.
cutefuzzythings t1_iurmmkn wrote
I will be living in NH and the business operates in NY without me. I technically "oversee" the management, but there's not much that I don't do remotely.
habituallinestepper1 t1_iurqtnu wrote
Yeah, you need a really, really, really good attorney. It's probably less expensive to just pay your taxes but, you do you.
However, when you've spent a lot of money on fees and get the following answer, please remember you were told this for free (twice):
Tax is owed in the state the business was conducted in, not where you "oversee" it from.
Quirky_Butterfly_946 t1_iurvefc wrote
I would assume that the business' EIN number is from NY. Which would make it a NY entity and pays NY taxes. Even if a business was headquartered in another state, but has a business in another state, it would still pay taxes.
I believe this also includes electronic businesses.
CSTeacher232 t1_iuriuhf wrote
Usually you can not pay NY taxes on any work done in NH. If your buisness is in NY then I think that would be hard to work out. I would guess that if you are doing all your work in NH then you could personally avoid Ny income taxes on your salary, but as others have said you are gonna have to check with someone that knows the laws.
wegandi t1_iurn5td wrote
Not sure, but get a CPA. My hunch would be theres some benefit, otherwise why would so many corps HQ in Delaware.
CDogNH t1_ius0js2 wrote
Call a CPA.
smallboxofcrayons t1_iurlpav wrote
Like others have said, it’s probably best for an accountant experienced with this but found this after a google search:
https://www.tax.ny.gov/pubs_and_bulls/tg_bulletins/pit/ny_source_income_nonresident.htm
cutefuzzythings t1_iurn3vj wrote
Thank you! Seems like so
PossibilityThink t1_iurjcu4 wrote
NYS tax authority is crazy and will try to collect taxes for years after you fully leave the state. Leaving NYS and not voting democrat is the best thing to do.