Indiana Tax Sharing and Disaffiliation Agreement
Description
How to fill out Tax Sharing And Disaffiliation Agreement?
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FAQ
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.
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.
Single member LLCs are treated the same as sole proprietorships. Profits are reported on Schedule C as part of your individual 1040 tax return. Self-employment taxes on Indiana LLC net income must be paid just as you would with any self-employment business.
A reciprocal agreement is an agreement between two states that allows employees that work in one state but live in another to request exemption from tax withholding in their employment state.
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.
Residents of reciprocal states (Illinois, Indiana, Kentucky, Minnesota, Ohio, and Wisconsin) working in Michigan, do not have to pay Michigan tax on their salaries or wages earned in Michigan.
The composite return must include each nonresident partner regardless of whether or not the nonresident partner has other Indiana source income. (j) If a partnership does not include all nonresident partners in the composite return, the partnership is subject to the penalty imposed under IC 6-8.1-10-2.1(j).
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.