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INSTRUCTIONS FOR CALCULATING
NEW YORK CREDIT
Paying New York tax does not
guarantee you will have enough credit to offset local
Chestnuthill Township earned income tax. A New York
Nonresident (IT-203) income tax return must be completed
before you can complete a Chestnuthill Township tax return.
A COPY OF YOUR W-2 FORM AND NEW YORK
IT-203 RETURN MUST BE INCLUDED WITH YOUR LOCAL CHESTNUTHILL
TOWNSHIP TAX RETURN OR YOUR CREDIT WILL BE DISALLOWED.
From the
Chestnuthill Township Earned Income Tax Return:
Line 17: Income
amount from line 1, IT-203, New York State column.
Line 18: Multiply
1% x amount on line 17.
Line 19: New York
tax liability from line 59,
IT-203. Do not use the amount of New York tax
withheld.
Line 20: Multiply
3.07 % (0.0307) x amount on line 17.
Line 21: Subtract
line 20 from line 19. This is the amount of your credit. If
you cannot subtract line 20 from line 19 or the amount is a
negative figure— you have no credit. Put zero on line 10,
Chestnuthill tax return.
Line 1: Gross income includes
deferred income and contributions to 401k. Do not use New
York State or Federal W-2 wages. Deferred income and
contributions to 401k is taxable for PA State and local.
Local earned income tax is due on this income.
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