NYC Income Tax
 

I need to find out how much income tax a person would pay if they are living and working in NYC, income of $70,000 or $100,000.

Need to find out the take home pay so no need for sales tax info.

Understand there is state and federal tax - are there any others?

Thanks everyone!

Re: NYC Income Tax
 

There are another couple, Social Security and Medicare.

Off the top of my head believe that Social Security will max out at somewhere around the $6,000 mark. It does get adjusted every year. Medicare I think is about 1%. Keep in mind that even though you pay Medicare you can not use the program.

Also you might want to check if there are any taxes peculiar to NY. For example we pay a CA SUI/SDI tax which I am unsure of the percentage of, but so far we have paid $400 for it this year.

At 7.30am this morning (ET) Mayor Bloomberg announced a housing tax hike of 18.5% (a record).

Apparently it was announced so early in the morning so as to have a personal driver having time to get the signed document up to Albany today in order that the new rate would be included in the housing tax bills being sent out this week. :eek: (And probably to avoid most of the press/demonstrations).

There is also a surtax (City tax) if you live right in NYC and its boroughs.

On average 36% of your salary will go to NYC, NYS & FED including Social security etc, but. Thats upto say $100k one dependent.
Reg. Frank R. NYC 15 years.