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For New York Non-Resident returns, the summary page can be misleading, because it appears that your entire income is taxed. But, what is happening is that the amount labeled as Amount Taxed By New York is actually just being used to find the Starting Amount (your New York State Tax).
Then, the Starting Amount is multiplied by your Income Factor, which should be the amount you earned in New York divided by your Federal Adjusted Gross Income.
The resulting tax due is the amount of tax that you would normally pay in your tax bracket for all of your income, reduced so that you only have to pay for the percentage of that tax that you actually earned in New York.
As long as the correct amount has been allocated during the state interview portion as being your only source of New York income, you can feel confident that TurboTax is accurately calculating everything for you.
If this does not fully answer your question, kindly post additional details below.
It appears Turbo Tax is calculating 5.97% of the NYS taxable income on line 37, instead of applying the tax table rule of finding the base tax and adding the excess calculation to that.
161,407 x 5.97 = 9636.00 versus 161,407 = 2093 plus 5.97% of excess over 107,650 (43K)
I calculate on paper 2093 + 7068.90 = 9161.90
This is an overpay variance of 474.10
What am I missing?
"If your New York AGI amount on Form IT-203, line 32, is more than $107,650, see pages 58 through 63 to compute your New York State tax." New York IT-203 Instructions page 57
What is your NY AGI (line 32 on the IT-203)? Isn't it more than $107,650?
If so, which Tax Computation did you use starting on page 58?
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