NJ versus NY income tax

[sclone]

Hi - I thought since there are a lot of people from the NY metro area here, someone might be able to help me out with somethinge. I'm in my second year working in publishing, and I don't make a huge amount of money. I work for a book publisher in NJ right now, but have just been made an offer for a similar position at a magazine in NYC. The problem is that they're offering an identical salary, and they won't budge. The perks of the job definitely make it worth taking, even at the same salary.

All that explanation to get to this: how big is the difference between NY and NJ state taxes? I know it's higher in NYC, but does anyone know how much?

Thanks in advance for any help...

EDIT: Aknowledging that there's some sort of city commuter's tax, possibly. Blah, I'm confused...

[B54]

New York's taxes:
http://dab.nfc.usda.gov/pubs/docs/taxformulas/formulas/statecitycounty/taxny/taxny.html

New Jersey's taxes:
http://dab.nfc.usda.gov/pubs/docs/taxformulas/formulas/statecitycounty/taxnj/taxnj.html

I put those up because I am not aware of your situation, so you fill it in and find out yourself what you will be paying.

Mod Edit: Links are fixed.

[sclone]

Thanks, buddy.

PS Those links are the same, I think.

[generoso]

Hi - I thought since there are a lot of people from the NY metro area here, someone might be able to help me out with somethinge. I'm in my second year working in publishing, and I don't make a huge amount of money. I work for a book publisher in NJ right now, but have just been made an offer for a similar position at a magazine in NYC. The problem is that they're offering an identical salary, and they won't budge. The perks of the job definitely make it worth taking, even at the same salary.

All that explanation to get to this: how big is the difference between NY and NJ state taxes? I know it's higher in NYC, but does anyone know how much?

Thanks in advance for any help...

EDIT: Aknowledging that there's some sort of city commuter's tax, possibly. Blah, I'm confused...
BTW even if you live in NJ..I think you have tp pay a NYC income tax if you work in the city...I might be wrong .....

[sclone]

I believe if you live in NJ and work in NY, you pay state taxes in both states, but NJ gives you some sort of credit for the taxes. In my bracket (below $50000), my girlfriend's dad tells me that I'll probably only end up paying an extra $100 a year...

[ChrisH]

I believe if you live in NJ and work in NY, you pay state taxes in both states, but NJ gives you some sort of credit for the taxes. In my bracket (below $50000), my girlfriend's dad tells me that I'll probably only end up paying an extra $100 a year...

You will get a credit, but will also definitely pay more in NYC...remember, NYC has both a state and city income tax. I *think* (tax law is not my specialty) you can get an exemption from the city tax if you fill out a form that pledges that you don't reside in the city, but I'm not 100% positive. Also, remember that commuting costs and the general cost of living (lunches while at work, etc.) are much higher in NYC, so an identical salary will probably be, after everything shakes out, a bit of loss compared to the same amount in Joisey.

[frankjg]

Are you planning to move to the city? If so then you will pay NYC taxes along with NYS taxes.

If you are going to stay in NJ then you will not pay the NYC taxes but you will have to pay NYS taxes. There is some type of rev sharing/ chargeoff in your NJ taxes though.

I live upstate and work in NYC and do not pay NYC taxes. There is no commuter tax either. Bloomberg wanted to bring it back a couple of years ago but the gov shot it down. Thanks god, since I pay taxes out of the ass already.

the real question is where will you eventually move up, learn, and make the big bucks? Thats where you should go.

[sclone]

Are you planning to move to the city? If so then you will pay NYC taxes along with NYS taxes.

If you are going to stay in NJ then you will not pay the NYC taxes but you will have to pay NYS taxes. There is some type of rev sharing/ chargeoff in your NJ taxes though.

I live upstate and work in NYC and do not pay NYC taxes. There is no commuter tax either. Bloomberg wanted to bring it back a couple of years ago but the gov shot it down. Thanks god, since I pay taxes out of the ass already.

the real question is where will you eventually move up, learn, and make the big bucks? Thats where you should go.

Thanks for the info. I'm living in Jersey (Bergen County) and commuting by train into Manhattan. The perks and opportunity for growth (both status-wise and financially) at a nationally distributed magazine far exceed the slight financial hit I'll take in the short term...

EDIT: Plus, I'm spending so much money in gas right now, it's actually cheaper for me to buy a monthly train pass. The pass is only $140. I'm probably spending $250 a month in gas commuting...