Transcript TAX WORKSHOP

TAX WORKSHOP
Presented to:
NEW YORK STATE
NONRESIDENT STUDENTS
& SCHOLARS
Spring 2007
Toll Free Tax Information
1-800-225-5829
(foreign language assistance is available)
VISIT OUR WEB SITE AT:
www.nystax.gov
New York State Income Tax

If you did not have income and
only need to file Form 8843 to the
IRS ……
then, you do not need to file a
New York State personal income
tax return.
Federal Conformity



New York State (NYS) complies with ALL tax
treaties that the Internal Revenue Service uses.
Your Federal (IRS) Taxable Income is the
starting point in computing your New York State
income tax.
New York-Source Income is Taxable Income you
received in New York State.
Note: If you earned income in any other state in
the United States, please consult that state for
income tax filing requirements.
New York State Income Tax for
Nonresident Alien Students & Scholars


Almost all nonresident alien students and
scholars are in New York temporarily for a
particular purpose and, therefore, are
nonresidents for income tax purposes.
However, if you do not have a domicile (a place
you intend to return to as your permanent home)
outside New York State and you maintained a
permanent place of abode (residence) in New York
State, you may be required to file other New York
State income tax returns.
Do I have to file a New York State IT-203
nonresident income tax return?


Yes, if you meet any of the following conditions:
You had New York-source taxable income and
your New York adjusted gross income (Federal
amount column) is more than:
$7,500 for single individuals
$3,000 if single & can be claimed on another
taxpayer’s IRS tax return
$7,500 if married & filing separate tax
returns
You want to claim a refund.
New York State Nonresident Tax Form

Almost all nonresident alien students/
scholars who file a NYS income tax
return will need to file:
Form IT-203, “Nonresident and Partyear Resident Income Tax Return” and
attach form IT-2 if you received W-2’s
Form IT-203 Filing Status:
Guidelines for Nonresident Aliens


If you checked “single” on your 1040NR-EZ or
1040NR and you are required to file Form IT-203,
you MUST check “single” as your filing status on
your Form IT-203.
If you checked “married” on your 1040NR-EZ or
1040NR, you must check “married filing separate”
as your filing status on your Form IT-203.
(“Married filing joint” is not allowed)
Form IT-203 Guidelines


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Unlike the IRS tax return, NO
PERSONAL EXEMPTION is allowed for
you or your spouse on Form IT-203.
You are allowed the SAME amount of
DEPENDENT EXEMPTIONS as claimed on
your IRS tax return.
Unlike the IRS tax return, you may ALL
claim a STANDARD DEDUCTION.
The NYS Standard Deduction Amount

2006 New York State standard deduction
amount:
$7,500 for single individuals
$3,000 if single & can be claimed on
another taxpayer’s federal (IRS)
return
$7,500 if married & filing separate tax
returns
Form IT-203 General Guidelines


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If any part or your scholarship or fellowship was
included as INCOME (for room and board) on your
IRS tax return, then enter it on the line for OTHER
INCOME (line 15) on your NYS tax return, IT-203.
If you included your 2005 State Income tax refund
as income on your IRS tax return, you can subtract
it (line 24) on your NYS tax return, IT-203.
Only enter the taxable income from the IRS tax
return onto the NYS tax return, IT-203
W-2 Form
16-70000000
4000.00
UCLA
Main St
Los Angeles CA 90903
010-00-0101
Joy Kim
345 University St
Amherst NY 14226
CA
16-7000000
4000.00
200.00
5
424.00
W-2 Form
16-6000000
6000.00
University of New York At Buffalo
Capen Hall
Amherst NY 14226
010-00-0101
Joy Kim
345 University St
Amherst NY 14226
NY
16-60000000
6000.00
240.00
540.00
What about the State Copy of
Form W-2?
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If you are filing a NYS tax return and have a
W-2, transfer your W-2 information onto NYS
Form IT-2.
DO NOT attach a W-2 to your NYS tax return
(IT-203). Keep the state copy for your
records.
Attach the IT-2 to your IT-203.
Note: Obtain Form IT-2 from www.nystax.gov
IT-2
Transfer ALL W-2 Information to
Form IT-2
{
You must complete IRS
Form 1040NR-EZ or
1040NR before filling out
Form IT-203.
Federal Form 1040NR-EZ – Transfer the taxable income
amounts only from the 1040NR-EZ or 1040-NR.
Line 6 includes $5000 Scholarship
and $2000 is wages reported on
Form 1042-S and is NOT
transferred to the NYS form IT-203
This column, lines 3-10,
is taxable income and
transferred to NYS return
Federal amount Column
Completing IT-203
Complete Lines 1 through 18. Transfer the amounts from your 1040NR-EZ
or 1040NR to the Federal Amount column and income you earned in
New York State (New York-source income) to NYS amount column.
Use your Federal Adjusted gross income then determine your NYS
adjusted gross income. If you included your state refund for tax
year 2004 as income on your 1040NR-EZ or 1040NR, subtract it on
line 24 to arrive at NYS taxable income.
Line 38 NYS taxes – See next slide for Tax Chart
If you have a dollar amount on line 37 (NYS taxable income), find your
income tax in the tables beginning on page 69 of the IT-203 instructions
Line 39 – Household Credit
Who is entitled to a
NYS household credit?

Cannot be claimed on another person’s federal tax
return and if your income on form IT-203:

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Single and your federal amount column (line 18) is $28,000
or less
Married and federal amount column (line 18) is $32,000 or
less
The household credit is NOT refundable and will only
reduce your NYS tax.
See page 40 in the IT-203 Instructions booklet for
household credit chart
NYS household credit chart for a single
person that CANNOT be claimed on
another taxpayer’s federal return
IT -203 tax computation (cont.)
New York State and Local
Sales and Use Tax
You owe a sales and use tax if:
You purchase property or a service delivered to YOU in
New York State without payment of sales and use tax
(Ex. Internet, catalog purchases).
Most tangible personal property is subject to New York
and Local Sales tax.
Examples: clothing, jewelry, electronic equipment, furniture,
prewritten software, books (excluding text books), compact disks,
videos, etc.
Line 56 (IT-203) is used to report the amount
of sales tax you owe. If you do not owe sales tax,
enter “0” on line 56.
On page 64 of the IT-203 Instructions booklet,
there are instructions for computing the amount of
use tax due if you owe. If you DO NOT owe Sales
and Use tax, enter a ZERO on line 56. DO NOT
leave it Blank.
Page 4 of IT-203 – Line 62 is from IT-2
2
7
2
2
7
2
Joy Kim
Student
2/22/07
Joy Kim
2/23/05
optional
Mail your New York State tax
return by 4/17/07
Mail to: State Processing Center
PO BOX 61000
Albany, New York 12261-0001
Additional information for discussion
Reporting Sales Tax ONLY

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If you are not required to file a New York
State personal income tax return (IT-203),
you may report the amount of sales and use
tax on form ST-140.
This form is due 4/17/2007
Income Tax Filing TIPS
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Remember to:

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Sign your tax return.
Enter your Social Security Number on your tax
return.
Complete Form IT-2 from your W-2 information
and attach the IT-2.
Thank you for coming!
The material included in this presentation is
intended for nonresident alien students and
scholars in New York State who are in the
U.S. on F-1 or J-1 visas.
For more information, please refer to NYS
Division of Taxation and Finance forms,
instructions and publications.