Indiana Tax Sharing Agreement
Description
How to fill out Tax Sharing Agreement?
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FAQ
A tax reciprocity agreement is a pact between two or more states not to tax the income of workers who commute into the state from another state covered by the agreement.
Five states have a reciprocal agreement with the state of Indiana. They are Kentucky, Michigan, Ohio, Pennsylvania, and Wisconsin. All salaries, wages, tips, and commissions earned in these states by an Indiana resident must be reported as if they were earned in Indiana.
Indiana residents must report all income that is reported for federal income tax purposes on their Indiana individual income tax return. This includes income from sources outside Indiana.
State reciprocity agreements are pacts between two or more states that allow residents to only pay income tax on where they live versus where they work.
Indiana has established reciprocity agreements with Kentucky, Michigan, Ohio, Pennsylvania, and Wisconsin concerning the collection of income tax from nonresidents employed in Indiana.
Any partnership doing business in Indiana or deriving gross income from sources within Indiana is required to file a return.
The state ?pass-through entity tax?, or PTET, election allows the business to claim a state tax deduction on its own federal income tax returns and reduces the amount of taxable income reported on the IRS Form K-1 received by the owners each year.
Form WH-47, Certificate of Residence, should be completed by residents of these states working for Indiana employers. This certificate is an affidavit showing the employee's state of legal residence and provides proof that no withholding of Indiana state income tax is required.
