2

As far as I understand it:

If I make 5k yearly versus making 50k yearly I fall into a different federal tax bracket and the amount I'm taxed becomes modified (this is the simple explanation).

Question

Does anything like this exist for the nyc tax bracket or is it a flat tax? What about for people who make less than 5k yearly?

1 Answer 1

6

New York City income tax is progressive, just like federal income tax. If you look at page 69 of form IT-201-I available here from the New York State Department of Taxation and Finance, you'll see a table of how to apply the tax brackets depending on marital status.

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