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Instructions for completing New York State Form IT-230, which is used to figure the separate tax on lump-sum distributions for residents and part-year residents of New York State.
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How to fill out it-230-i - tax ny

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How to fill out IT-230-I

01
Obtain a copy of the IT-230-I form from the New York State Department of Taxation and Finance website.
02
Read the instructions carefully before starting to fill out the form.
03
Provide your name, address, and Social Security number in the appropriate sections.
04
Fill in the details regarding the type of tax credit you are applying for.
05
Calculate the amounts as needed and enter them in the specified fields.
06
Complete any required supporting schedules or documentation.
07
Review the completed form for accuracy and ensure all required fields are filled.
08
Sign and date the form before submitting it.

Who needs IT-230-I?

01
Individuals who are eligible for a tax credit in New York State should complete IT-230-I.
02
Taxpayers seeking to claim certain credits on their New York State income tax returns.
03
People filing a tax return that includes the New York State Child and Dependent Care Credit.
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Note that all five New York City counties (New York, Kings, Queens, Bronx and Richmond) are subject to the full city tax rate of 8.875%, the highest total rate in the state.
If you were a New York State resident or part-year resident individual, resident estate, or resident or part-year resident trust and you used federal Form 4972, Tax on Lump-Sum Distributions, to compute your federal tax on lump-sum distributions, you must use New York State Form IT-230 to compute your New York State
All city residents' income, no matter where it is earned, is subject to New York City personal income tax. Nonresidents of New York City are not liable for New York City personal income tax.
The total sales and use tax rate is 8.875 percent. This includes: New York City local sales and use tax rate of 4.5 percent. New York State sales and use tax rate of 4.0 percent.
The City Sales Tax rate is 4.5%, NY State Sales and use tax is 4% and the Metropolitan Commuter Transportation District surcharge of 0.375% for a total sales and use tax of 8.875 percent.
Social Security retirement benefits are not taxable under the New York state income tax, even if they are taxable at the federal level.
In addition to the state-wide taxes mentioned above, the following cities have unique income taxes as well: New York City also requires a 4.25% income tax from its residents.
The total sales and use tax rate is 8.875 percent. This includes: New York City local sales and use tax rate of 4.5 percent. New York State sales and use tax rate of 4.0 percent.

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IT-230-I is a form used for requesting a credit for taxes paid to another state or locality, specifically in the context of New York State taxes.
Individuals who are residents of New York State and have paid income taxes to another state or locality while also having income taxable by New York are required to file IT-230-I.
To fill out IT-230-I, taxpayers need to accurately provide their personal information, details of the income taxes they paid to other states, and calculate the credit owed based on this information.
The purpose of IT-230-I is to allow New York State residents to claim a credit for taxes they have already paid to other jurisdictions, thereby avoiding double taxation.
The information that must be reported on IT-230-I includes the taxpayer's personal details, details of the taxation in other states or localities, and the amounts paid as income tax.
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