tax: New York Income Tax Changes for 2009
- 06/10/09 02:39 AM
Recently, New York State enacted new tax laws that include a significant increase in personal income tax for upper-income taxpayers.Personal Income Tax IncreaseRetroactive to January 1, 2009, two new personal income tax brackets are established on top of the current top tax rate of 6.85%. The rate increases to 7.85% for married couples filing joint with incomes over $300,000; for head of household filers with incomes above $250,000; and for single filers with income over $200,000. The rate increases to 8.97% for all filers with incomes above $500,000.Phase-out of Itemized DeductionsRetroactive to January 1, 2009, taxpayers with a New York adjusted … (1 comments)
Recently, New York State enacted new tax laws that include a significant increase in personal income tax for upper-income taxpayers.Personal Income Tax IncreaseRetroactive to January 1, 2009, two new personal income tax brackets are established on top of the current top tax rate of 6.85%. The rate increases to 7.85% for married couples filing joint with incomes over $300,000; for head of household filers with incomes above $250,000; and for single filers with income over $200,000. The rate increases to 8.97% for all filers with incomes above $500,000.Phase-out of Itemized DeductionsRetroactive to January 1, 2009, taxpayers with a New York adjusted … (1 comments)
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