Welcome to state taxes Guide
Nc State Taxes Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
A Guide to New York State Taxes
from:New York State Income Taxes range from 4 to 6.85 percent based on the following categories:
1) Personal income tax
New York state taxes for personal income use a progressive, five-bracket system.
For single taxpayers:
- 4% on the first $8,000 of taxable income
- 4.5% on taxable income between $8,001 and $11,000
- 5.25% on taxable income between $11,001 and $13,000
- 5.9% on taxable income between $13,001 and $20,000
- 6.85% on taxable income of $20,001 and above.
For married persons filing joint returns, the rates are the same but the income brackets are doubled. New York income tax forms are due on April 15, but if this date falls on a weekend or holiday, payment can be done the following working day. New York City has its own tax rates brackets. The state's earned income credit has increased to 30 percent of the federal credit. This credit helps taxpayers offset increases in living expenses and Social Security taxes. It also reduces taxes owed and in some cases, it can even allow a refund to filers who do not owe any tax.
2) Sales tax
On June 1, 2005, New York's additional 0.25 percent sales and use tax rate has expired and it lowered the New York state taxes rate on sales to 4 percent. Local rates vary and in some areas, the combined sales tax rate in can be more than 7 percent.
3) Personal and real property taxes
Real property in New York is taxed based on its value. Counties, cities, towns, villages, school districts and special districts raise money through the real property tax to pay for local services. The amount of a property's tax bill is determined by the property's taxable assessment and the tax rates of the taxing jurisdictions where the property is located. The law on New York State Taxes enables properties in most municipalities to be assessed at under the same value percentage. That percentage can be 5 percent, 10 percent, 50 percent or any other percentage not exceeding 100 percent.
4) Inheritance and estate taxes
New York has no inheritance tax. The state has decided to discontinue its estate tax link to the federal estate tax. This means that New York estate tax liability will be larger than the allowable federal credit for state death taxes.
Other facts on New York State Taxes:
The status of New York State Taxes can be checked using the New York State Department of Taxation and Finance's online refund tracker. New York taxpayers can learn about their rights in Publication 3.8.
Nc State Taxes News
New NC bill ties corporate break, private schools - BusinessWeek
New NC bill ties corporate break, private schools BusinessWeek By EMERY P. DALESIO Tens of thousands of North Carolina public school students would leave for private classrooms if they got tuition help of up to $4000 a year funded by corporations able to donate their money instead of paying state taxes, ... NC law to tie corporate tax break, private tuition |
Who's getting rich on gas tax gap? - The Virginian-Pilot
Who's getting rich on gas tax gap? The Virginian-Pilot There's nothing particularly noteworthy about that four-cent difference, except for this - North Carolina's state gas tax is 38.9 cents a gallon, or 21.4 cents higher than Virginia's state gas tax. Despite the significantly lower gas tax in Virginia, ... |
States including NC turning to tolls to pay for highways - Shelby Star
 Atlanta Journal Constitution | States including NC turning to tolls to pay for highways Shelby Star Federal and state fuel tax revenues peaked in 2007 at $72.4 billion, then dropped to $68.6 billion in 2010, the most recent year for which data are available. Meanwhile, state toll collections rose from $4.9 billion in 2000 to $8.9 billion in 2010, ... States looking to new tolls to pay for highways States looking more to Interstate tolls to pay for highway construction ... |
Proposed Cuts to North Carolina's Highly Successful Tobacco Prevention ... - MarketWatch (press release)
Proposed Cuts to North Carolina's Highly Successful Tobacco Prevention ... MarketWatch (press release) North Carolina this year will collect $428 million in revenue from the 1998 state tobacco settlement and tobacco taxes. It would take just four percent of the state's tobacco revenues to maintain funding for tobacco prevention programs at current ... |
NC House wants to go slow on prisoner health care - BusinessWeek
 abc11.com | NC House wants to go slow on prisoner health care BusinessWeek The full House agreed unanimously Wednesday to a Senate bill designed to set aside $205.5 million to eliminate a shortfall in the state Medicaid program this fiscal year by pooling money from several government pots and some unanticipated tax ... NC law to tie corporate tax break, private tuition Public schools see cuts eased in NC House budget House committees OK budget adjustments |