New York State Tax on Foreign Income, Do I have to pay New York State Taxes on Foreign Income Do you Have to Pay New York State Taxes on Foreign Earned Income? | Genesis Tax Consultants, LLC
Genesis Tax Consultants
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New York Taxation & Reporting of Foreign Income

Do I have to pay New York state taxes on foreign income?

 

Do You Have to Pay New York State Taxes on Foreign Income?  

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New York treatment of foreign income

 

New York Allows You To Be Domiciled But Not Pay State Income Tax 

If you are domiciled in New York, you will be considered a nonresident if you meet all 3 of the conditions outlined for either Group A or Group B:

GROUP A

  • You did not maintain a permanent place of abode in New York during the tax year.
  • You maintained a permanent place of abode outside of New York during the tax year.
  • You spent 30 days or less in New York during the tax year. 

GROUP B

  • You were in a foreign country for at least 450 days during a period of 548 consecutive days. 
  • During the 548-day period, you were not in New York more than 90 days and you did not have a permanent abode in New York. 
  • During the nonresident part of the tax year in which the 548-day period either begins or ends, you were in New York for no more than the number of days that bears the same ratio to 90 as the number of days in such portion of the tax year bears to 548. use the following formula:

Number of days in nonresident portion/548 x 90 = maximum days allowed in NY

Filing Requirements: If you were in a foreign country for an entire tax year and you meet all the conditions of Group A, you are considered a nonresident of New York for that year.  If you meet the conditions of Group B, you must file Form IT-203 for the tax year in which the 548-day period began. For the part-year resident period, include items of income, gain, loss or deduction up to the time you changed residence.  For the nonresident period, you must also include these items if they are derived from New York sources. 

If you can take the earned income exclusion, you can also claim it on the New York State income tax return in the federal amount column.  Be sure to attach a copy of the Form 2555 to the New York return. 

When you are ready to have your return prepared please send me an email to get the process started. 

 
Nicholas Hartney, LLC BBB Business Review

 Click on Image to Verify Professional License through the IRS Preparer Directory  Search: Country: Germany Zip: 65812 Last Name: Hartney  

Click on Image to Verify Professional License through the IRS Preparer Directory

Search: Country: Germany Zip: 65812 Last Name: Hartney  





➤ locations served

Available for all taxpayers in every state and all Expatriates living abroad. 

CONTACT NICHOLAS HARTNEY, EA

nick@genesistaxconsultants.com
 

 

Areas of Practice


expat tax preparation 

Foreign earned income and housing exclusions for both federal and state income tax returns. Foreign bank account reporting (FBARs), Statement of Specified Foreign Financial Assets, Tax Treaties, Application for IRS Individual Taxpayer Identification Number,etc.


business tax debt representation 

We will file a power of attorney with the IRS and State Taxing Authority to negotiate a hold on all enforcement action such as bank and account receivable levies while we work on an appropriate resolution including Installment Agreements, Company Restructuring, Penalty Abatements, Offer in Compromises, and Currently Not Collectible Status.  We will also advise you if bankruptcy is an option. 


irs and state tax debt representation 

We will file a power of attorney with the IRS and State Taxing Authorities to negotiate an appropriate resolution for back tax debt including Installment Agreements, Penalty Abatements, Offer in Compromises, Innocent Spouse Requests, and Currently Not Collectible Status.  We will also advise you if bankruptcy is a option. 
 


new business entity formation 

We will educate you of the pros and cons of organizing an Limited Liability Company versus a Corporation, S-Corp., Limited Partnership, etc. and assist in the formation of the entity of your choosing.   


previous years tax returns

We will prepare your previous years tax returns to bring you back into compliance with the IRS and State. 


business tax return preparation 

Whether you have a sole proprietorship with a Schedule C or a 1120 Corporate return we will prepare any business return.  

 
 

 
 
The hardest thing in the world to understand is the income tax.
— Albert Einstein, physicist
 
 

 
 
 

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