New York State Taxes
Quick Tax Facts
Income Tax: 4% – 10.9%
State Sales Tax: 4%
Median Property Tax: $5,884
Overview
New York State has a lot more to offer than just The Big Apple and Broadway. The state is home to more than 2,000 wineries, 180 state parks, and historic Niagara Falls. Whether you crave quiet country living or the hustle and bustle of city life, you can find it all here. Unfortunately, all that diversity and opportunity comes at a price. Income, property, and sales taxes all run on the high side. It’s even more expensive if you live in New York City or Yonkers, where they tack on additional taxes.
New York Income Tax
New York State has a progressive income tax rate that increases with income and varies based on filing status. The state income tax rates currently range between 4% and 10.9%.
| New York Income Tax Rates – Single & Married Filing Separately |
|---|
| If your taxable income is: | Your tax rate is: |
|---|---|
| $0 – $8,500 | 4% |
| $8,501 – $11,700 | $340 plus 4.5% of the excess over $8,500 |
| $11,701 – $13,900 | $484 plus 5.25% of the excess over $11,700 |
| $13,901 – $80,650 | $600 plus 5.5% of the excess over $13,900 |
| $80,651 – $215,400 | $4,271 plus 6.% of the excess over $80,650 |
| $215,401 – $1,077,550 | $12,356 plus 6.85% of the excess over $215,400 |
| $1,077,551 – $5,000,000 | $71,413 plus 9.65% of the excess over $1,077,550 |
| $5,000,001 – $25,000,000 | $449,929 plus 10.30% of the excess over $5M |
| Over $25,000,000 | $2,509,929 plus 10.90% of the excess over $25M |
| New York Income Tax Rates – Married Filing Jointly |
|---|
| If your taxable income is: | Your tax rate is: |
|---|---|
| $0 – $17,150 | 4% |
| $17,151 – $23,600 | $686 plus 4.5% of the excess over $17,150 |
| $23,601 – $27,900 | $976 plus 5.25% of the excess over $23,600 |
| $27,901 – $161,550 | $1,202 plus 5.5% of the excess over $27,900 |
| $161,551 – $323,200 | $8,553 plus 6% of the excess over $161,550 |
| $323,2001 – $2,155,350 | $18,252 plus 6.85% of the excess over $323,200 |
| $2,155,351 – $5,000,000 | $143,754 plus 9.65% of the excess over $2,155,350 |
| $5,000,001 – $25,000,000 | $418,263 plus 10.30% of the excess over $5M |
| Over $25,000,000 | $2,478,263 plus 10.90% of the excess over $25M |
| New York Income Tax Rates – Head of Household |
|---|
| If your taxable income is: | Your tax rate is: |
|---|---|
| $0 – $12,800 | 4% |
| $12,801 – $17,650 | $512 plus 4.5% of the excess over $8,500 |
| $17,651 – $20,900 | $730 plus 5.25% of the excess over $11,700 |
| $20,901 – $107,650 | $901 plus 5.5% of the excess over $13,900 |
| $107,651 – $269,300 | $5,672 plus 6% of the excess over $80,650 |
| $269,301 – $1,616,450 | $15,371 plus 6.85% of the excess over $215,400 |
| $1,616,451 – $5,000,000 | $107,651 plus 9.65% of the excess over $1,077,550 |
| $5,000,001 – $25,000,000 | $434,163 plus 10.30% of the excess over $5M |
| Over $25,000,000 | $2,494,163 plus 10.90% of the excess over $25M |
Who Must File?
Full-time New York State residents must file Form IT-201, Resident Income Tax Return, if they meet any of the following conditions:
- They must file a federal income tax return;
- No federal tax return was filed but their recomputed federal adjusted gross income (AGI) plus New York income is more than $4,000 (or $3,100 if they are single and can be claimed as a dependent on another taxpayer’s federal return);
- They want to claim a refund of any New York State, New York City, or Yonkers income tax withheld from their pay; or
- Plan to claim any New York refundable or carryover tax credits.
Part-Year and Nonresidents
Part-year and nonresidents must file Form IT-203, Nonresident and Part-Year Resident Income Tax Return, if any of the following apply:
- They earned income while residing in New York State or had New York source income while residing outside the state and their New York adjusted gross income (federal amount) exceeds their New York standard deduction;
- They want to claim a refund of any New York state, New York City, or Yonkers income taxes withheld;
- There are refundable or carryover tax credits they plan to claim;
- For the tax year, they had a net operating loss for personal income tax purposes (state) without having a similar loss for federal income taxes.
For part-year residents may also have to file if they were subject to a separate tax on lump-sum distributions for their resident period (derived from or connected to New York sources). There may also be additional tax responsibilities if they were a New York City or Yonkers resident during the tax year.
New York Sales Tax
New York has a statewide sales tax rate of 4%, plus any local rate in effect where the sale or transaction takes place. The highest combined sales tax rate in the state is 8.875%. Most counties, however, average 8%.
New York Property Taxes
New York property taxes are assessed and collected at the local government level. Most residents receive two tax bills per year: September and January. The effective real estate property tax rate is 1.73%, which is high compared to most other states.
The median property tax bill in New York is $5,884 (based on a median home value of $340,600). Westchester County has the highest average tax bill at $9,003. The lowest average property tax bill in the state is $1,674 in St. Lawrence County.
| Highest | $9003 |
|---|---|
| Median | $5884 |
| Lowest | $1674 |
Yearly Cost Per Resident
New York Tax Holidays
At this time, there are no tax holidays scheduled in New York.
New York Tax Resources
If you need assistance preparing your New York State taxes, you can speak with a tax professional from Tax Defense Network by calling 855-476-6920.
You can also visit the New York Department of Taxation and Finance website for additional resources.
- Make a Payment
- Individual Income Tax Forms
- Check Your Refund
- Customer Service: 518-457-5181
