Archive of entries posted in September 2013

State Residency for state tax purpose–It is not a “to be not to be” issue.

Why is your residency important?

Similar to the federal income tax, a state in the United States may impose personal income taxes on the state residents of world-wide income regardless of where the income is from. Nonresidents are taxed only income attributable to (“sourced to”) that state. Part-year residents are taxable on their world-wide income while a resident of the state and only on income from the state source while nonresident. Continue Reading »