In a message dated 9/19/2007 9:35:02 A.M. Eastern Daylight Time,
bobveit@verizon.net writes:
You will get a credit in your home state for any income taxes paid in
another state.
Not necessarily. States restrict the credit to the lesser of what you would
have owed your home state or what you paid the other state (for example,
would have owed $1,000 to your home state on the income but paid $1,500 to the
other state, you will get the $1,000). Some states also restrict the type of
income they will allow a credit for.
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