Telecommuting, a pandemic-era novelty that has become a permanent alternative for many people, has some Connecticut and New Jersey employees of New York-based
New Jersey is telling its telecommuters to appeal their New York tax assessments – and Connecticut might soon do the sameFILE – Light from the setting sun falls on the Hudson Yards neighborhood in the borough of Manhattan in New York City, as seen from the Weehawken Pier in Weehawken, New Jersey, on Wednesday, March 22, 2023. New Jersey is incentivizing taxpayers who work from home for New York based employers to sue New York in court for taxing their wages.
“The process of doing the refund and the appeal isn’t all that intimidating to me,” said Banks, a tax partner at Hodgson Russ LLP. “I’m on New Jersey’s team here. I would like to see more residents doing this. I think they have a really fair point.”FILE – People wait to drive through the Holland Tunnel into New York City during morning rush hour traffic in Jersey City, New Jersey, on Wednesday, March 8, 2023.
Out-of-state taxpayers paid New York nearly $8.8 billion in 2021 in taxes, roughly 15% of the state’s total income tax revenues, according to the Citizens Budget Commission in New York. Of that, $4.3 billion came from New Jersey taxpayers and $1.5 billion from Connecticut taxpayers. Officials in New Jersey estimate it could reap as much as $1.2 billion annually if residents working from home for New York companies are taxed at home. Connecticut could recoup about $200 million, its officials say.
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