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New York City Tax from Form IT-2104.1?

Asked by: bustermcleod 1590 views YA Discussion

I saw on this form where you have to fill out the % of time you provide services in the City of New York. What if the percentage changes at some time in the middle of the year? What do you do if an audit happens if you work for a major corporation and how often does a corporate audit like this happen to companies in the City of New York?

2 Answers

  1. tro on Aug 18, 2012 Reply

    there would be 2080 work hours in a year, if you get 2 wks paid vacation, down to 2000
    how many hours do you work in NYC as compared to the 2000?
    ie. x/2000= %

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  2. cynic47 on Aug 19, 2012 Reply

    Look carefully at the form and instructions, linked below. You do have to estimate an allocation of your time for the STATE of NY (and for the city of Yonkers) if you expect to work out of state (or out of Yonkers if your base of operations is in Yonkers) for a significant proportion of your time. Note, however, that there is no requirement to estimate an allocation of your time for the CITY of NY. Also, the allocation is just an estimate, and is only for nonresidents. You do have to file a new form if you become a resident, or if your estimate of the allocation percentage changes “substantially.”

    This form, like the underlying withholding allowance form IT-2104, is used by the employer to determine how much NY tax to withhold for each paycheck. The state normally doesn’t penalize you for good faith errors on this form. Instead, they penalize you when you file your tax return at the end of the year, if it turns out that you didn’t have sufficient taxes withheld during the year.

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