![]() ![]() The way you compute the tax and the type of return you file will depend on the type of business your corporation conducts. The combined New York State and City maximum individual income tax rate imposed on residents is now the highest in the nation, at 10.90 (State) + 3. If your New York adjusted gross income, Form IT-201, line 33 is more than 107,650, you cannot use these tables. If your business is incorporated in New York State or does business or participates in certain other activities in New York State, you may have to file an annual New York State corporation tax return to pay a franchise tax under the New York State Tax Law. 202.464.6200 State Individual Income Tax Rates and Brackets for 2021 Katherine Loughhead Senior Policy Analyst Key Findings Individual income taxes are a major source of state government revenue, accounting for 38 percent of state tax collections in fiscal year 2018, the latest year of data available. Information on this page relates to a tax year that began on or after January 1, 2023, and before January 1, 2024. NYS temporary top tax rates increase (NYS FY 2021-2022 Enacted Budget): for tax years 2021 to 2027, the top NYS income tax rate increased from 8.82 percent to: 9.65 percent for taxable income over 1,077,550 for single filers, 1,616,450 for head of household filers, or 2,155,350 for joint filers.
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