Tax Type
Individual Income Tax
Description
Out-of-state tax credit; New York source income
Topic
Credits
Date Issued
04-21-1994
April 21, 1994
Re: §58.1-1821 Application: Individual Income Tax
Dear***********
This will reply to your letter in which you request the correction of an assessment issued against *************** concerning the calculation of the Virginia out-of-state tax credit on income earned from New York sources.
Enclosed please find a copy of two recent rulings issued by the department in which the taxpayers' application for correction of their respective assessments based upon an alternative method of calculation of the out-of-state credit was rejected. The issue raised in your appeal are analogous to those addressed in the recent rulings. Thus, for the same reasons set forth in the rulings, I must also deny your request for an alternative method.
Accordingly, the assessment is correct. Attached is a schedule indicating the tax liability plus interest accrued through the date of this letter. The assessments must be paid in full within 30 days to avoid accrual of additional interest. Please forward your payment to c/o Office of Tax Policy, the Virginia Department of Taxation, P.O. Box 1880, Richmond, Virginia 23282.
Sincerely,
Danny M. Payne
Acting Tax Commissioner
Rulings of the Tax Commissioner