2010 TaxGrams™
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State and Local Taxes
New York State Tax Summary

New York state tax summary, including corporate and individual New York income taxes, credits, exemptions, deductions and more. Includes New York estate, gift and inheritance tax, miscellaneous New York taxes, pass-through entity treatment, payroll taxes, property taxes and New York sales & use taxes.

New York ranks #49 on the State Business Tax Climate Index (TaxFoundation.org).

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New York Tax Contacts

New York Tax FAQs

New York Tax Forms

New York Corporate Taxes

  • taxmOuth New York Corporate Taxes
  • New York Tax Rates & Brackets:

    7.1%> $0
  • Loss Carry-back/fwd: 2 Years Back ($10,000 max.) / 20 Years Forward (Unlimited)
  • Throwback Sales?: N
  • Foreign Tax Deductible?: N
  • Alternative Minimum Tax (AMT): Y
  • Gross Receipts Tax: N
  • Capital Stock (Net Worth) Tax?: 0.150% ($10,000,000 max.)

New York Tax Incentives and Credits

New York Individual Income Taxes

  • taxmOuth New York Individual Income Taxes
  • New York tax rates and brackets:

    4%> $0
    4.5%> $8,000
    5.25%> $11,000
    5.9%> $13,000
    6.85%> $20,000
    7.85%> $200,000
    8.97%> $500,000
  • Local Option IT Rate: 1.70%
  • Federal Inc used as Base?: Y
  • Standard Deductions: Single $7,500 / Joint $15,000
  • Personal Exemptions/Credits (c): Single N/A / Joint N/A / Dependent $1,000
  • Federal Tax Deductible?: N
  • State Tax Deductible?: Y
  • Alternative Minimum Tax (AMT)?: Y

New York Estate, Gift and Inheritance Taxes

New York Miscellaneous Taxes

New York Pass-through Tax Treatment

New York Payroll Taxes

New York Property Taxes

  • taxmOuth New York Property Taxes
  • Median Tax Paid on Homes (Rank): $3,622 (#4)
  • Median Value of Homes: $318,900
  • Tax as % of Home Value (Rank): 1.14% (#17)
  • Median Income of Homeowner: $76,409
  • Tax as % of Income (Rank): 4.74% (#6)

New York Sales and Use Taxes

  • taxmOuth New York Sales and Use Taxes
  • State Rate: 4.00%
  • County & City (Weighted Ave): 4.30%
  • Combined State and Ave. Local Rates (Rank): 8.30% (#7)
  • General Treatment of Services: Many Taxable
  • Gasoline: Partial
  • Groceries: Exempt

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