It may appear that NYS is taxing you on all your income but in reality, it isn't.
The way that the NY state tax return works is that NY looks at all of your income from all sources and generates a NY state tax on all this income. However, when NY is determining the actual NY state taxes owed, NY multiples the total NY taxes on all income by the percentage of NY source income over all source income. If you look at the actual tax form, you can see what I mean,
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