Saturday, December 10, 2011

Where is the lesser tax burden?

I have a temporary (1yr) apartment in NYC for my job, I physically work in the city but I am paid by a company in MA. I own property (currently my domicile) in ME. I understand that I will have to pay income tax to MA (5.3%) but that amount will be credited to my resident return in either ME or NY. Should I change my domicile to NYC or keep it in ME? ME tax burden is one of the highest in the country but NYC has city tax as well. Taxable income is about 40k.

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