Law firm partners - tax credit for DC taxes?

[Anonymous]

For law firm partners who live in DC and work at a firm that operates in multiple states, does DC end up giving you a tax credit? It's my first year working at a firm, and I'm wondering how it all shakes out. Yes, I am working with an accountant. He says he won't know until we get the final K-1. So I'm just interested in others' experiences.

[Anonymous]

Bumping

[Anonymous]

Yes, DC gives a credit for taxes paid to other states.

[Anonymous]

Anonymous wrote:Yes, DC gives a credit for taxes paid to other states.

Do you then need to pay anything to DC?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, DC gives a credit for taxes paid to other states.

Do you then need to pay anything to DC?

Depends on your tax situation. You'll only get credit for the income that was double taxed by DC and the other state. If it's like my firm, most income is not double taxed.

[Anonymous]

Depends DC has agreements with Maryland and Virginia. So states do not have agreements.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, DC gives a credit for taxes paid to other states.

Do you then need to pay anything to DC?

Yes, we absolutely pay DC taxes, in addition to about 5 states and one foreign country. Though the states don’t include either MD or VA.

[Anonymous]

We pay taxes in multiple states.

[Anonymous]

Same. Pay taxes in I think 11 different states and also pay in DC.