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New York Personal Income Tax Laws
Explanation of Chart and More Information on Personal Income Tax Laws
| Code Section | Tax 601, et seq. Ch. 60 §601 |
| Who is Required to File | Individuals, estates and trusts, and nonresidents on income derived from New York sources; Partnerships are not taxable; New York City taxes resident individuals, estates, and trusts on their city taxable income; Partnerships are not taxable (§§11-1701, et seq.); A city income tax surcharge of 5% of net state tax is imposed on resident individuals, estates, and trusts of Yonkers |
| Rate | First $16,000, 4%; Next $6,000, 4.5%; Next $4,000, 5.25%; Next $14,000, 5.9%; Next $110,000, 6.85%; Next $350,000, 7.375%; Over $500,000, 7.7%; (for Tax Year 2004). First $16,000, 4%; Next $6,000, 4.5%; Next $4,000, 5.25%; Next $14,000, 5.9%; Next $110,000, 6.85%; Next $350,000, 7.25%; Over $500,000, 7.7%; (for Tax Year 2005). |
| Federal Income Tax Deductible | No |
| Federal Income Used as Basis | Yes |
Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.
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- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
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