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Doesn’t City Income Tax Use the Same Numbers as Federal Taxes?
The short answer is No. The numbers are different. Federal and most State tax returns subtract for fringe benefits (e. g. 401K), adjustments (e. g. student loan interest) and/or a standard deduction before calculating total taxable income also known as Adjusted Gross Income or AGI. However, Cities usually base their taxable income on the Box … Doesn’t City Income Tax Use the Same Numbers as Federal Taxes?
