K&E Share Partner taking questions about K&E Forum

[Anonymous User]

A couple of posters had mentioned NSPs having to pay state income taxes. I'm in a no state income tax state. How much taxes are we talking about?

It is around 5% of your overall Compensation in total.

If I'm making NSP in a HCOL area, does that mean my overall taxes could go down? (5% is less than I pay now in state/local taxes). Or is it 5%ish more regardless.

I should have clarified my post on this. The 5% is an allocation of state taxes based on firm revenue in each state. If you live in a state with its own state income tax, I believe that is on top of your allocated state taxes. If you live in a state without a state income tax, the state income tax you are allocated is around 5% of total comp. The original question noted they lived in no income tax state, but my answer may have been a bit unclear.

[boomer1989]

This is not especially related to this thread, but I’m curious if anyone here knows — have associate reviews been scheduled for anyone yet? I’m in the NY office and haven’t heard anything, and it seems later than in years past. Any insight would be helpful. Thank you in advance!