The2012 New York State income tax returns are now available online.
Thefirst thing I noticed is that Page 1 of the IT-201 and IT-203 resident andnon-resident income tax forms are expanded to include a detailed listing ofdependents.
Theforms are still 4 pages, and the space for the dependent listing section ismade by eliminating the detail for itemized deductions previously on the bottomhalf of Page 2. The itemized deductionschedule has been moved to new Forms IT-201-D and IT-203-D.
Goodnews, at least for me. Forms IT-2,IT-1099-R, and IT-1099-UI have been eliminated! I no longer have to waste my time filling in these stupid forms. We now merely attach the state copy of theW-2 and appropriate 1099s with the filing of the return, like with the federaland other state filings, and like what used to be the case with NY state filings. Thank God for small favors.
Taxrates have been reduced for taxpayers with taxable incomes of over $40,000. andthe tax computation worksheets for taxpayers with New York adjusted grossincome of more than $100,000 are now based on filing status.
Taxpayersrequesting direct deposit are asked some additional information about the bank accountto which refunds are to be deposited, and taxpayers must now enter only whole dollaramounts on income tax forms (nothing major here – I have never used cents ontax returns, except for some dependent returns).
Thereare a couple of new tax credits for 2012, including a “Beer Production Credit”. Too bad there is not a “Beer ConsumptionCredit”.
The2012 NJ returns are not yet available. Iwill let you know when they are.
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