Basic Info
Deductions
Insurance Premiums
Your New York Paycheck Results
Calculating your paycheck…
Take-Home Pay:
$0.00
Per Pay Period:
$0.00
Tax Breakdown
Federal Income Tax:
$0.00
NY State Income Tax:
$0.00
NY City Tax:
$0.00
Social Security:
$0.00
Medicare:
$0.00
Additional Medicare:
$0.00
Total Tax:
$0.00
Deduction Breakdown
401(k) Contribution:
$0.00
Traditional IRA:
$0.00
HSA Contribution:
$0.00
FSA Contribution:
$0.00
Health Insurance:
$0.00
Dental Insurance:
$0.00
Vision Insurance:
$0.00
Other Deductions:
$0.00
Total Deductions:
$0.00
Gross Annual Income:
$0.00
Effective Tax Rate:
0.00%
New York State Income Tax Information
New York has a progressive income tax system with eight tax brackets. New York City and Yonkers also levy local income taxes, making total withholding higher for residents in those areas.
| Taxable Income | Tax Rate |
|---|---|
| $0 – $8,500 | 4.00% |
| $8,501 – $11,700 | 4.50% |
| $11,701 – $13,900 | 5.25% |
| $13,901 – $21,400 | 5.85% |
| $21,401 – $80,650 | 6.25% |
| $80,651 – $215,400 | 6.85% |
| $215,401 – $1,077,550 | 9.65% |
| $1,077,551 and above | 10.90% |
Standard Deduction: $8,000 (Single), $16,050 (Married Filing Jointly)
Personal Exemption: New York does not allow a personal exemption.
Federal Income Tax
Federal income taxes apply to all U.S. residents based on income, filing status, and deductions. The IRS uses a progressive tax rate structure from 10% to 37%.
FICA Taxes
| Component | Rate | Income Limit |
|---|---|---|
| Social Security | 6.2% | Up to $168,600 |
| Medicare | 1.45% | No Limit |
| Additional Medicare | 0.9% | Above $200,000 (Single) / $250,000 (Married) |
Pre-Tax Deductions
Common pre-tax deductions reduce your taxable income for both federal and state purposes:
- 401(k), 403(b), or 457 retirement plans
- Health, dental, and vision insurance premiums
- Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA)
- Transit benefits (especially valuable for NYC commuters)
New York–Specific Deductions and Credits
| Credit or Deduction | Description |
|---|---|
| Empire State Child Credit | Up to $330 per qualifying child |
| New York Earned Income Credit (EIC) | Equals 30% of your federal EITC if you qualify |
| College Tuition Credit | Up to $400 per student attending a qualified institution |
| Household Credit | Available to low and middle-income earners |
| Renter’s Credit (NYC residents) | For renters whose income is under certain thresholds |
Interesting Facts About New York Taxes
- New York has one of the highest top income tax rates in the nation at 10.90%.
- New York City imposes an additional local income tax up to 3.876%.
- The state offers generous education tax credits and deductions for college students and parents.
- Over 40% of New York state revenue comes from income taxes.
- Workers commuting to NYC often pay both state and local income taxes.
FAQs – New York Paycheck Tax
- 1. Does New York tax retirement income?
- Pensions from New York State and local governments are exempt; up to $20,000 in private pensions may also be excluded.
- 2. Do I pay city tax in New York?
- Yes, if you live in NYC or Yonkers, you will pay an additional local income tax.
- 3. Is unemployment income taxable in NY?
- Yes, unemployment benefits are fully taxable at both federal and state levels.
- 4. Can I deduct 529 plan contributions on my NY tax return?
- Yes, up to $5,000 (single) or $10,000 (married) is deductible for contributions to NY’s 529 College Savings Plan.
- 5. Does NY follow federal HSA rules?
- No, HSA contributions are not deductible for New York state tax purposes.