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New York
By the Numbers

New York Below is a snapshot of key features of New York's tax system. (Scroll Down)
State & Local Revenue (FY10)
  • General Revenue, Own-Source (GROS): $181.7 billion
  • General Revenue as a Share of Income: 19.9%
  • Tax Revenue: $136.2 billion
  • Tax Revenue as Share of income: 14.9%
  • Personal Income Tax (Share of Tax Revenue): 31.2% (3 out of 51)
  • Corporate Income Tax (Share of Tax Revenue): 6.7 % ( 3 out of 51)
  • Sales & Excise Tax (Share of Tax Revenue): 25.3 % ( 42 out of 51)
  • Property Tax (Share of Tax Revenue): 32.4 % ( 28 out of 51)
  • Other Taxes (Share of Tax Revenue): 3.6 % (36 out of 51)
Personal Income Tax Features (2012)
  • Range of Tax Rates: 4.0% - 8.82%
  • Standard Deduction: $7,500 ($15,000 for Married Couples)
  • Personal Exemption: None
  • Dependent Exemption: $1,000
  • Earned Income Tax Credit (EITC): 30% Refundable
  • Temporary brackets and rates in place through 2014.
Corporate Income Tax Features (2012)
  • Range of Tax Rates: 7.10%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: Yes
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
Sales Tax Features (2012)
  • State Sales Tax Rate: 4.00%
  • Average Local Sales Tax Rate: 4.40%
  • Average Combined State & Local Sales Tax Rate: 8.40%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: Exempt
  • Number of Services Taxed: 158 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: No
  • "Amazon law" in effect
  • Sales tax applies to some digital goods and services
Property Tax Features (2012)
  • STAR program exempts $30,000 of property value from school taxes.
  • Provides a small circuit breaker to non-elderly taxpayers.
  • Property taxes capped at the lesser of 2% or the rate of inflation
Other Tax & Revenue Features (2012)
  • Gasoline Tax Rate (per gallon): $0.498
  • Diesel Tax Rate (per gallon): $0.496
  • Cigarette Tax Rate (per pack): $4.35
  • Estate or Inheritance Tax: Yes
  • Net Lottery Sales Per Capita: $358 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes
  • Tax Incidence Analysis Capability: Personal income tax only

Last Updated October 4, 2012

Sources & Glossary