New York

The facts on New York’s Tax Climate

New York's Individual Income Tax System
New York's individual income tax system consists of 8 brackets with a top rate of 8.82%. The top rate ranks 7th highest among states levying an individual income tax. New York's state and local tax collections per person were $2550 in 2013, which ranked 1st highest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita

New York's Corporate Income Tax System
New York's corporate income tax system consists of a flat rate of 6.5%. That rate ranks 24th highest among states levying a corporate income tax. New York's state and local corporate income tax collections per person were $591 in 2013 which ranked 2nd highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita

New York Sales and Excise Taxes
New York levies a 4% general sales or use tax on consumers, which is below the national median of 5.95%.The average local sales tax rate is an additional 4.5%. New York's state and local governments collect $1310 per person in general sales taxes and $677 per person in excise taxes, for a combined figure of $1987, which ranks 6th highest nationally. New York's gasoline tax stands at 42.64 cents per gallon, 3rd highest nationally, while its cigarette tax stands at $4.35, 1st highest nationally.
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita

New York Property Tax Collections Relatively High
New York's state and local governments collected approximately $2494 per person in property taxes in 2013, which ranks 4th nationally.
State and local property tax collections per capita by state

Tax Freedom Day Arrives on May 11th in New York

Tax Freedom Day is the day when Americans have finally earned enough money to pay off their total tax bill for the year. In 2016, New York taxpayers have to work until May 11th (48th earliest nationally) to pay their total tax bill.

New York's State and Local Tax Burden Highest in Nation

New York's 2012 tax burden of 12.7% ranks 1st highest in the nation, and is above the national average of 9.9%. New York's taxpayers pay $6993 per capita in state and local taxes.
New York's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009

New York's 2016 Business Tax Climate Index Ranks 49th

New York ranks 49th on the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes (12th), individual income taxes (49th), sales taxes (42nd), unemployment insurance taxes (32nd), and taxes on property (47th), including residential and commercial property.
State Business Tax Climate Index (full study)

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