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TAX WORKSHOP

TAX WORKSHOP. Presented to: NEW YORK STATE NONRESIDENT STUDENTS AND SCHOLARS. Toll Free Tax Information 1-800-225-5829 (foreign language assistance is available). VISIT OUR WEB SITE AT: www.nystax.gov. Federal Conformity.

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TAX WORKSHOP

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  1. TAX WORKSHOP Presented to: NEW YORK STATE NONRESIDENT STUDENTS AND SCHOLARS

  2. Toll Free Tax Information1-800-225-5829(foreign language assistance is available) VISIT OUR WEB SITE AT: www.nystax.gov

  3. Federal Conformity • New York State complies with ALL tax treaties that the Internal Revenue Service uses. • Your Federal Taxable Income is the starting point in computing your New York State Income Tax.

  4. New York State Income Tax • If you did not earn U.S. income and only need to send Form 8843 to the IRS, then you don’t need to file a New York State personal income tax return.

  5. Will you file your tax return as a New York State Resident or Nonresident? • Almost all nonresident alien students and scholars are in New York temporarily and are nonresidents for tax purposes. • However, if you do not have a domicile (a place you intend to return to as your permanent home) outside New York State and you maintained a permanent place of abode (i.e. residence) in New York State, you may be a resident for New York State Income Tax purposes.

  6. Do I have to file a New York State IT-203 nonresident income tax return?Yes, if you meet any of the following conditions: • Your income is greater than the standard deduction amount, which is: $7,500 for single individuals $3,000 if single & can be claimed on another taxpayer’s federal (IRS) return $6,500 if married and filing separate tax returns • You want to claim a refund

  7. New York State Nonresident Tax Forms • Form IT-203, Nonresident and Part-year Resident Income Tax Return AND YOU MAY BE REQUIRED TO ATTACH • Form IT-203-ATT, Income Allocation and Itemized Deductions

  8. You must complete IRS Form 1040NR-EZ or 1040NR before filling out Form IT-203.

  9. Form IT-203 Filing Status: Guidelines for Nonresident Aliens • If you checked “single” on your 1040NR-EZ or 1040NR and are required to file Form IT-203, you MUST check “single” as your filing status on your Form IT-203. • If you checked “married” on your 1040NR-EZ or 1040NR, you must check “married filing separate” as your filing status on your Form IT-203. (“Married filing joint” is not allowed.)

  10. Form IT-203 Guidelines • You are allowed the SAME amount of DEPENDENT exemptions as claimed on your IRS tax return. • Unlike the IRS tax return, NO exemption is allowed for yourself. However, if you are claiming your spouse as a dependent and checking “married filing separate” on your 1040NR or 1040NR-EZ, then you may receive that same dependent exemption when you file Form IT-203. • Unlike the IRS tax return, you may ALL claim a standard deduction.

  11. Form IT-203 Guidelines • If you are required to enter a scholarship or fellowship on the wages line on your IRS tax return, do the same for your New York State return. • If you enter your scholarship or fellowship on the scholarship / fellowship line of the IRS tax return, then enter it as OTHER INCOME on your New York State tax return. • INTEREST AND DIVIDENDS ARE NOT TAXABLE TO NEW YORK STATE NONRESIDENTS.

  12. New York State and Local Sales Tax You owe a sales and use tax if: You purchase property or a service delivered to YOU in New York State without payment of sales and use tax (e.g. purchases through the Internet, by catalog or from television shopping channels) Note:Most tangible personal property is subject to tax. Examples: clothing, jewelry, electronic equipment, furniture, prewritten software, books (excluding textbooks), compact disks, videos, etc.

  13. Sales and Use Tax (cont.) • Line 52 was added to the 2003 personal income tax return (Form IT-203) for you to report the amount of sales tax you owe. • If you are not required to file a New York State personal income tax return, you may report the amount of sales and use tax on Form ST-140.

  14. How do I calculate the amount of sales and use tax that I may owe? • If you do not owe sales and use tax, you enter “0” on line 52. • There is a table in the instructions to assist in computing the amount of use tax due on a single purchase of less than $1000. • If the purchase is valued at $1000 or more, compute the exact amount of use tax due using the applicable tax rate.

  15. Form IT-203

  16. Now let’s take another look at the amounts you entered on Form 1040NR-EZ because . . . Your starting point for computing your New York State Tax return is Form 1040NR-EZ or 1040NR

  17. 1040NR-EZ IT-203

  18. Form IT-203 (cont.)

  19. Form IT-203 (cont.)

  20. Form IT-203 (cont.)

  21. Sample W-2 Form

  22. Form IT-203 (cont.)

  23. Form IT-203 (cont.)

  24. Form IT-203-ATT For Nonresident Alien Students: Complete this form ONLY if you do not live on-campus and ONLY if you are filing form IT-203. The form IT-203-ATT is an attachment and cannot be filed alone.

  25. Income Tax filing TIPS . . . remember to: • Sign your tax return. • Enter your Social Security Number or your IRS Individual Identification Number on your tax return. • Staple all wage and tax statements (W-2) to the front bottom of your tax return.

  26. Mail your New York State personal income tax return by 4/15/04Mail to: State Processing Center PO BOX 61000 Albany, New York 12261-0001

  27. Thank You For Coming

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