New York City collects its own income taxes in addition to those collected by the state. New York's income tax rates were last changed one year ago for tax year 2019, and the tax brackets were previously changed in 2016.. New York has eight marginal tax brackets, ranging from 4% (the lowest New York tax bracket) to 8.82% (the highest New York tax bracket). The lowest rate applies to single and married filing separately taxpayers on incomes up to $12,000. ; The Tax Law requires a New York qualified terminable interest property (QTIP) election be made directly on a New York return for … Each marginal rate only applies to earnings within the applicable marginal tax bracket.

Note that according to New York law, any taxpayer with a taxable income of more than $1,127,550 will pay the top 8.82% state tax rate on the entirety of their taxable income. Like the Federal Income Tax, New York's income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers.. New York's maximum marginal income tax rate is the 1st highest in the United States, ranking directly below New York's %. 2019 tax tables Select the return you file below (IT-201 for New York State residents or IT-203 for New York State nonresidents or part-year residents) for more information on where to find the tax rates and tables for New York State, New York City, Yonkers, and metropolitan commuter transportation mobility tax (MCTMT). The Basic Exclusion Amount for New York State estate tax for dates of death on or after January 1, 2020, and before January 1, 2021, is $5,850,000.

Head of household filers qualify for this rate on incomes up to $14,400. New York City has four tax brackets ranging from 3.078 percent to 3.876 percent. Rates kick in at different income levels depending on filing status. Subtract the nontaxable biweekly Thrift Savings Plan contribution from the gross biweekly wages. New York collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets.

Withholding Formula (New York Effective 2018). Subtract the nontaxable biweekly Federal Health Benefits Plan payment(s) (includes flexible spending account - health care and dependent care deductions) from the amount computed in step 1. 8.82%.