Nanny States

Started Mar 31, 2013 | Discussions thread
Bill Randall
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Re: Ahh, you nailed me, sorta
In reply to Chato, Apr 2, 2013

Chato wrote:

Bill Randall wrote:

Chato wrote:

Bill Randall wrote:

Chato wrote:

Chato wrote:

Top New York State tax rate is a wee bit over seven percent. Where did you come up with the nine percent figure anyway? PHdip?

Dave

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"Everyone who has ever lived, has lived in Modern Times"

If you do a search for "New York Income Tax Rate" several items come up. In fact I tried to post one such site before we went to dinner. It appeared to be a state cite but the address would not copy. I tried cut and paste but as soon as it posted it lost all formatting.

As I said in an earlier post to this thread, the high end of the rates was 9%. The last link I had that would not retain its format showed 8. XX something. This was for the high income earners.

Here's a link. It's not accurate. Cuomo added a a half point "temporary" tax, bringing the top rate up to my figure.

NY Income Tax rates

You would think I could simply find it for you.

"Who Pays" also has a chart with up to date numbers, but their chart doesn't actually list the rate, but the rate that people actually pay, which is more like six plus percent. Oddly enough, that's my rate. Who knew I was rich?

Loopholes count when you're rich.

Dave

Two sites:

http://taxes.about.com/od/statetaxes/a/highest-state-income-tax-rates.htm

From the above link:

New York Tax Rates

New York uses a bracketed system in which tax rates increase as income increases.  New York’s tax rates range from a low of 4% for those with taxable incomes of $16,000 or less to 8.97% for those making $500,000 or more.  The widest tax bracket is the 6.85% bracket for those with taxable incomes of $40,000 to $300,000.

http://www.tax-brackets.org/newyorktaxtable

From your second link, I took the option of letting them calculate my income tax, assuming itemized deductions on an income of 1,200,000.

The only deduction I claimed was my Federal Income Tax. Oddly enough, after doing this, I paid a lower rate then the one I actually pay.

Go Figure...

If you and I had an income of $ 1,200,000 we would die of high blood pressure.

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