3 ms·

Residents must pay NY state taxes (already high), and NYC has a separate city income tax that varies from ~4–10% depending on your bracket.

• huehehue 4y ago
  Do you have a source for that? The highest city tax bracket I can find is 3.867% To be clear, it's still ridiculous to pay hundreds of dollars a month extra just to live in the five boroughs but 10% would be unmanageable
  • mcntsh 4y ago
    For earners making over 60k the cost is $2176 plus 3.867% of your income[1], which brings the total % of liable tax up. [1]: https://www.nyc.gov/assets/finance/downloads/pdf/22pdf/business_tax_forms/nyc-1127_2022.pdf https://www.nyc.gov/assets/finance/downloads/pdf/22pdf/busin...
    • tzs 4y ago
      That's plus 3.867% of the amount of income that is over $60000.
      • mcntsh 4y ago
        You can go plug your income into a tax calculator for NYC and you’ll see that on a 200k income you’d be paying 4.15% on each pay check - this takes into account the progressive tax system on the federal state and city level. This is almost exactly what comes out of my paychecks every two weeks, and no I don’t get much back at the end of the year.