Does Your State Tax Recreational Marijuana?
Recreational marijuana taxation is one of the hottest policy issues in the U.S. Currently, 21 states have implemented legislation to legalize and tax recreational marijuana sales.
5 min read
New York Tax Rates, Collections, and Burdens
How does New York’s tax code compare? New York has a graduated individual income tax, with rates ranging from 4.00 percent to 10.90 percent. There are also jurisdictions that collect local income taxes. New York has a 6.50 percent to 7.25 percent corporate income tax rate. New York has a 4.00 percent state sales tax rate, a max local sales tax rate of 4.875 percent, and an average combined state and local sales tax rate of 8.52 percent. New York’s tax system ranks 49th overall on our 2023 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and New York is no exception. The first step towards understanding New York’s tax code is knowing the basics. How does New York collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures: How Does Your State Compare?
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Close to Home: A Short Guide to Property Taxes
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Facts & Figures 2023: How Does Your State Compare?
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State Individual Income Tax Rates and Brackets, 2023
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New York, Oregon, and Other States Eye Much Higher Taxes on High Earners
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Will the Federal Government Tax Your State Tax Rebate?
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State and Local Sales Tax Rates, 2023
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State Tax Policy as an Inflation Response
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