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Get the free Home - State Cap Auto FinanceWestport, MA

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Credit Application 275 State Road P.O. Box 820 Westport, MA 02790 Main Office: (508) 6757833 / Toll Free (800) 3344789 Main Office Fax: (508) 6752900 Sales Office Fax: (508) 6750003Please complete,
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Home-state cap refers to the limitation on the amount of state tax liability that can be claimed as a credit on the taxpayer's home state tax return.
Taxpayers who have income from another state and have paid taxes on that income may be required to file a home-state cap.
The home-state cap can usually be filled out on the taxpayer's home state tax return form.
The purpose of the home-state cap is to prevent double taxation on income earned in another state.
Taxpayers must report the amount of income earned in another state, the taxes paid on that income, and any credits received from that state.
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