1 / 27

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.

phuc
Download Presentation

TAX WORKSHOP

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  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

More Related