Yes, it is accurate, a resident of New York is required to report all income received even if from work out of state. To avoid a situation where you are double taxed, when your tax is calculated in New York, you are given credit for the percentage of your income earned out of state. For instance, if half of your income was earned in New York and the other half in North Carolina, your New York income would be the sum of income from both states. Your New York tax would be calculated based on that income, but then the final tax you pay would be 50% of the tax calculated on your total income.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
