Why doesn't my NJ tax credit (NJ line 41) equal my NY tax paid when all my income is from NY?

[editorjohn123]

I get a screen that verifies I paid $11,419 to NY, then turbo tax reduces that to $10,063 for credit paid to NY on the same screen, then on line 41 of the NJ 1040 it lists the credit as $9382. 

[SweetieJean · Accepted solution]

Your credit cannot be more than the amount you would have paid if you earned the income in New Jersey.

Since NY and NJ tax rates differ, it is not a dollar for dollar offset.

http://www.state.nj.us/treasury/taxation/njit14.shtml