3 ms·
I agree they shouldn't have put the 53% marginal claim right next to the social security point, as the max-marginal people will be well past the cap, but the 53
by mister_tee 4y ago
I agree they shouldn't have put the 53% marginal claim right next to the social security point, as the max-marginal people will be well past the cap, but the 53% max marginal rate might still be true?
37% federal + 1.45% FICA (medicare) + 0.9% medicare surtax + 10.3% NY state + 3.8% NYC = 53.4+%
but I don't work in NYC.
- the-rc 4y agoBTW, between $1M and $1.1M, NYS tax rates switch to flat, not marginal, and apply to the entire income.