NEW YORK tax return

NEW YORK Tax Returns with ExpressTaxRefund.com!

Looking to cut down on tax preparation time? You can file your NEW YORK income taxes and federal taxes at the same time using ExpressTaxRefund.comExpressTaxRefund.com simplifies the tax preparation process by automatically filling in any matching information into both your state and federal tax forms.

The state of New York allows residents to file together with their spouse under a joint filing system; this lets them combine their incomes into a single taxable amount. Most states allow the joint filing system and follow the federal concept of taxing a family as one income.

Same sex marriages are recognized by the state of New York and follow the same tax rules as any other married couple.

Taxes are based on the federal adjusted gross income, although there are some large differences between federal and state tax law.

Exemptions

There are some differences between federal and New York state tax law. These items are exempt from New York state income tax:

  • U.S. Government Bond Interest
  • Capital gains from the sale of certain new business investments
  • Private pension income for those over 59 ½ up to $20,000
  • Military, public and civil service pensions.
  • Social Security benefits
  • Disability Income up to $5,200

Some contributions to retirement plans for public employees and amounts withheld from wages for federal taxes for specific NYC public employees are added to state AGI.

Deductions

New York state standard deduction for residents is $7,700 for Single/Married filing Single, $15,400 for married filing jointly and $10,800 for Head of Household. Other deductions are:

  • New York College saving programs contributions
  • Investments into Qualified emerging technologies
  • Feed for long-term residential care
  • Organ donation expenses
  • Income earned as a member of the NY organized militia
  • Payments towards interest under the New York Higher education loan program
  • Life insurance death benefits that have been accelerated

Federal, state, local and foreign income taxes are non-deductible. If the tax payer hasn’t claimed the college tuition credit they may deduct college tuition. State income thresholds set the amount of total deductions that can be claimed.

Tax Rates

New York Tax rates are as follows:

Single Filer Taxable Income Tax Rate
$0 - $8,450 4% of income over $0
$8,450 - $11,650 $338.00 plus 4.5% on anything over $8,450
$11,650 - $13,850 $482.00 plus 5.25% on anything over $11,650
$13,850 - $21,300 $597.50 plus 5.9% on anything over $13,850
$21,300 - $80,150 $1,037.50 plus 6.45% on anything over $21,300
$80,150 - $214,000 $4,832.88 plus 6.65% on anything over $80,150
$214,000 - $1,070,350 $13,733.90 plus 6.85% on anything over $214,000
$1,070,350+ $72,393.88 plus 8.82% on anything over $1,070,350

Married, Joint Filer Taxable Income Tax Rate
$0 - $17,050 4% of income over $0
$17,050 - $23,450 $682.00 plus 4.5% on anything over $17,050
$23,450 - $27,750 $970.00 plus 5.25% on anything over $23,450
$27,750 - $42,750 $1,195.75 plus 5.9% on anything over $27,750
$42,750 - $160,500 $2,080.75 plus 6.45% on anything over $42,750
$160,500 - $321,050 $9,675.63 plus 6.65% on anything over $160,500
$321,050 - $2,140,900 $20,352.20 plus 6.85% on anything over $321,050
$2,140,900+ $145,011.93 plus 8.82% on anything over $2,140,900

Married, Separate Filer Taxable Income Tax Rate
$0 - $8,450 4% of income over $0
$8,450 - $11,650 $338.00 plus 4.5% on anything over $8,450
$11,650 - $13,850 $482.00 plus 5.25% on anything over $11,650
$13,850 - $21,300 $597.50 plus 5.9% on anything over $13,850
$21,300 - $80,150 $1,037.50 plus 6.45% on anything over $21,300
$80,150 - $214,000 $4,832.88 plus 6.65% on anything over $80,150
$214,000 - $1,070,350 $13,733.90 plus 6.85% on anything over $214,000
$1,070,350+ $72,393.88 plus 8.82% on anything over $1,070,350

Head of Household Filer Taxable Income Tax Rate
$0 - $12,750 4% of income over $0
$12,750 - $17,550 $510.00 plus 4.5% on anything over $12,750
$17,550 - $20,800 $726.00 plus 5.25% on anything over $17,550
$20,800 - $32,000 $896.63 plus 5.9% on anything over $20,800
$32,000 - $106,950 $1,557.43 plus 6.45% on anything over $32,000
$106,950 - $267,500 $6,391.70 plus 6.65% on anything over $106,950
$267,500 - $1,605,650 $17,068.28 plus 6.85% on anything over $267,500
$1,605,650+ $108,731.55 plus 8.82% on anything over $1,605,650

ExpressTaxRefund.com supports all state income tax returns. Washington D.C. along with 41 states have income tax returns. If you live in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming, you only need to file your Federal Income Tax Return with the IRS.

Benefits of using ExpressTaxRefund.com:

  • Prepares both your federal return and your state income tax returns at the same time by automatically transferring matching data into both forms.
  • Finds all valid tax deductions, does the math for you and provides self-help tools to simplify tax preparation.
  • Allows you to securely access and efile your tax data online from any Internet connection.

Take advantage of online E-Filing services available through ExpressTaxRefund.com

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Customer Support :
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