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If you have a small amount of income from another state--say, from a publicly
partnership--do you have to file a return there? If you follow the rules precisely
probably yes. Most states demand a nonresident return from an out-of-stater w
local income. Often there's a break if the taxpayer does not have to file a feder
a handful of states, such as Minnesota and Vermont, have a threshold for local
be helpful for partnership investors.
Standard
ded +
exemption
Highest for
bracket1 $250,000
AGI2
1
Highest bracket may kick in above the $250,000 level assumed elsewhere in
$250,000 of adjusted gross income on a joint return that has no exemptions fo
Since exemptions and deductions will be prorated, the amount in this column m
safe harbor for an out-of-stater.
d Taxes only dividends and interest, making tax irrelevant to partnership units in
f State tax formula starts with federal taxable income, effectively creating a $20
exemption/standard deduction base for our hypothetical couple.
f* State tax formula starts with federal taxable income, but shrinks exemptions fo
g Filing threshold unambiguously described as gross, not net, income from a bus
j Must file if either required to file federally or has Colorado liability.
k Nonresident exempt from filing if there is no state tax liability.
m Nonresident who does not have to file a federal return is exempt from state fili
n Filing threshold unambiguously applies to net income.
p Return required if income exceeds prorated exemptions; number here presume
income and a $250,000 AGI.
t In lieu of exemptions, state allows credits, often ones that phase out with high
v Vermont return required if either gross income exceeds $1,000 or net exceeds
w D.C. doesn't tax nonresidents.
z Federal taxes deducted from state income, effectively reducing state rate.
Sources: Ta
ing Requirements
her state--say, from a publicly traded
f you follow the rules precisely, the answer is
return from an out-of-stater with even a dollar of
er does not have to file a federal return. But only
ont, have a threshold for local income that would
$3 p $1
1 11,000
1 1
1 33,197
1j 20,700 m
1 24,000
1 1
1 20,700 m
1 6,080
2,500 1
1k 1
1 2,000
1,000 1
1 1
1 15,930
1 20,700 m
1k 1
1 20,700 m
9p 1
1 1
10,350 g 1
1 1
600 20,700 m
1 8,740
1 20,700 m
1 20,000
1 20,700 m
1 15,950
1 16,500
1 20,700 m
1 1
1,000 1
1 11,805
33 n 1
1 20,700 m
1 20,700 m
1 20,700 m
100 v 20,700 m
1 23,900
1 4,000
2,000 g 1