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New York State Income Tax 2023-2024

The nine New York State tax brackets and the state income tax rates are determined by the taxable income and the filing status of the individuals. This blog provides more details you need to know!
New-York-State-tax
New York State Income Tax 2023-2024
Regardless of whether you’re a single or joint filer, all residents with an adjusted gross income of over $107,650 also need to pay a supplemental tax. This amount is determined and calculated on your earnings and filing status.
In this article

The nine New York State tax brackets and the state income tax rates are determined by the taxable income and the filing status of the individuals. Apart from that, the residence status also determines what’s taxable and what’s not. 

On top of the state income tax, New York City and Yonkers both add local taxes on income as well. 

For Single Filers or Married People Filing Independently:

Tax rateTax income bracketTax owed
4%$0 to $8,5004% of taxable income
4.5%$8,501 to $11,700$340 plus 4.5% of the amount over $8,500
5.25%$11,701 to $13,900$484 plus 5.25% of the amount over $11,700
5.85%$13,901 to $80,650$600 plus 5.85% of the amount over $13,900$4,504 plus 6.25% of the amount over $80,650
6.25%$80,651 to $215,400$4,504 plus 6.25% of the amount over $80,650
6.85%$215,401 to $1,077,550$12,926 plus 6.85% of the amount over $215,400
9.65%$1,077,551 to $5,000,000$71,984 plus 9.65% of the amount over $1,077,550
10.3%$5,000,001 to $25,000,000$450,500 plus 10.3% of the amount over $5,000,000
10.9%$25,000,001 and over$2,510,500 plus 10.9% of the amount over $25,000,000

For Joint Filers:

Tax rateTaxable income bracketTax owed
4%$0 to $17,1504% of taxable income
4.5%$17,151 to $23,600$686 plus 4.5% of the amount over $17,150
5.25%$23,601 to $27,900$976 plus 5.25% of the amount over $23,600
5.85%$27,901 to $161,550$1,202 plus 5.85% of the amount over $27,900
6.25%$161,551 to $323,200$9,021 plus 6.25% of the amount over $161,550
6.85%$323,201 to $2,155,350$19,124 plus 6.85% of the amount over $323,200
9.65%$2,155,351 to $5,000,000$144,626 plus 9.65% of the amount over $2,155,350
10.3%$5,000,001 to $25,000,000$419,135 plus 10.3% of the amount over $5,000,000
10.9%$25,000,001 and over$2,479,135 plus 10.9% of the amount over $25,000,000

For the Head of the household: 

Tax rateTaxable income bracketTax owed
4%$0 to $12,8004% of taxable income
4.5%$12,801 to $17,650$512 plus 4.5% of the amount over $12,800
5.25%$17,651 to $20,900$730 plus 5.25% of the amount over $17,650
5.85%$20,901 to $107,650$901 plus 5.85% of the amount over $20,900
6.25%$107,651 to $269,300$5,976 plus 6.25% of the amount over $107,650
6.85%$269,301 to $1,616,450$16,079 plus 6.85% of the amount over $269,300
9.65%$1,616,451 to $5,000,000$108,359 plus 9.65% of the amount over $1,616,450
10.3%$5,000,001 to $25,000,000$434,871 plus 10.3% of the amount over $5,000,000
10.9%$25,000,001 and over$2,494,871 plus 10.9% of the amount over $25,000,000

Remember

Regardless of whether you’re a single or joint filer, all residents with an adjusted gross income of over $107,650 also need to pay a supplemental tax. This amount is determined and calculated on your earnings and filing status. Check the NYS tax computation worksheets to find the New York Form IT-201 for residents and Form IT-203 for non-residents or part-year residents. 

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Who Has to Pay the New York State Income Tax?

If you are one of the following, you will have to pay the New York state income tax:

  • If you are a New York resident, you must file for federal tax. Or if your federal gross income plus New York additions is more than $4,000 for joint filers and $3,000 for a single filer.
  • You are not a resident of New York, but you have a source of income in New York during a tax year. In this case, if your workplace is in New York and you telecommute, those are still considered as working days in New York and you will owe income tax to the state of New York.

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What Are the Residency Types Under Which New York State Tax is Applicable?

When it comes to New York state tax, there are three types of residency that come under it:

  • Resident: For someone who lives in New York, all their sources of income inside and outside New York are taxable income.
  • Part-time resident: This is for people who earn while residing in New York and the incomes from any source in New York while being away from the state. 
  • Non-resident: This is applicable to all income from sources in New York if the adjusted gross income is higher than the New York standard deduction.

Are Pensions or Retirement Income Part of the New York State Tax?

Money earned or withdrawn from pension schemes and 401(k)s, 403(b)s and IRAs are combined and are taxable income. The existing tax slabs apply on this income as well. But if you are a recipient of New York state pensions and military retirement, you are exempt from the state tax. 

3 Things to Know About the New York State Tax

  • New York is very particular about the terms “place of abode” and “domicile.” A place of abode means any place you might be living in, while domicile refers to your primary place of residence, which you can only have one of. So, be clear with the terminology.
  • If you cannot afford to pay your taxes and your overdue is $20,000 or less, the state will offer you payment plans. You can pay your dues to the state over a period of three years.
  • You can check your state tax and refund status online. 

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Prem Kishan

A seasoned Product Manager who thrives on making a meaningful impact within the organization, Prem is deeply passionate about tackling intricate problems using cutting-edge technology and is a specialist in tax content.

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This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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