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January 2016 » Supreme Court Rules that Two States...
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Mark H. Levin, CPA, MST
One of the issues that taxpayers face is accurately reporting their state income to the appropriate state taxing authorities and paying the correct amount of tax. But many taxpayers have income from multiple states—consider, for example, those who live in Connecticut or New Jersey and work in New York State, or those who own businesses with locations in several states. In addition, many taxpayers face state and county income taxes, depending on the form of local government. With many states looking for additional revenue, the question becomes: Could two states tax the same income—even when the taxpayer is a nonresident of the second state?
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