Currently NYC resident, moving to Denver and will be working for a company based in Denver

[ushaanne]

I currently work for a company HQ in Denver, I'm moving from NYC to Denver on September 8th, working for the same company. How will my state and local taxes be calculated for January to September in NY state and how will my September to December earnings be taxed by NY and CO states?

For example: If my income from Jan - Sept 8th is $100K and Sept 9th - Dec is 200K, what will my state tax withholdings be and what state and local taxes will I owe for NY state and CO for tax year 2020?

Thanks

[xmasbaby0]

When you move to CO your employer needs to stop withholding NY tax and start withholding CO tax.  Make sure that the payroll department knows to do that.  You will prepare and file a federal return and two state returns--one for NY and one for CO.  When you prepare your federal return you will be able to enter the information that you lived in two different states and earned income in two different states in 2020.    You will indicate the dates that you lived and earned income in each of the states.  Then you will end up preparing and filing partial year returns for each state.

[ushaanne]

Thanks. I understand the filing process. To clarify, what I looking for information on how NY state and local taxes are calculated for part-tear resident. Similarly how are  CO state and local taxes calculated for part year resident.

I read in one of the forums that NY state taxes are calculated for the full year income and then prorated for the period of residency. I'm not familiar with CO taxes at this time but I know the tax rate seems to fixed rate of 4.63% - not sure of any local taxes in Denver.  

[xmasbaby0]

The tax rates do not change for a part year resident.  What changes is the time period that you pay the tax for.  Sorry--cannot give you specifics on possible local tax rates - you have not moved yet and do not provide a specific locale where you will live in the Denver area.  

https://www.colorado.gov/Tax/revenue-online-help

[Critter-3]

I read in one of the forums that NY state taxes are calculated for the full year income and then prorated for the period of residency.

That is true ... NY uses the total annual income to compute which tax rate you will pay taxes at and then prorates it for the state.  

Seems like CO does as well ... review the forms here :   https://www.colorado.gov/pacific/tax/individual-income-forms