Question

Business in one state, live and work in another

Forum|Forum|2 years ago
April 1, 2024
1 reply
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I live in Maryland and operate a sole proprietorship. I also have a single member LLC registered in the state of NY that only does business in NY. I just started the NY business this year and have no income but about $10k in expenses including about $350 in startup costs. My question is, do I have to file in NY or, because I only had losses, just Federal and Maryland for both businesses? Changing the business address between MD and NY doesn't seem to make a difference in TT. Thanks

TurboTax Home & Biz Windows

PatriciaV

Since you had no net income sourced in New York, you may not need to file a NY State income tax return.

If you are a New York State nonresident you must file Form IT-203, Nonresident and Part-Year Resident Income Tax Return, if you meet any of the following conditions:

You are a nonresident with New York source income and your New York adjusted gross income Federal amount column (Form IT-203, line 31) exceeds your New York standard deduction.
You want to claim a refund of any New York State, New York City, or Yonkers income taxes withheld from your pay.
You want to claim any of the refundable or carryover credits available.
You had a net operating loss for New York State personal income tax purposes for the tax year, without having a similar net operating loss for federal income tax purposes.