Ny state corporate tax rate 2020
On April 12, Governor Andrew Cuomo signed New York’s FY2019/2020 Budget Bill (S. 1509-C, A. 2009-C), allocating $175.5 billion and enacting numerous significant tax and revenue provisions. Progressive Mansion Tax: To raise resources for the MTA, the Enacted FY 2020 Budget implements a progressive transfer tax with a combined top rate of 4.15% on the sale of residential properties valued at $25 million or above in New York City. This structure promotes tax administration efficiency, New York state income tax rate table for the 2019 - 2020 filing season has eight income tax brackets with NY tax rates of 4%, 4.5%, 5.25%, 5.9%, 6.21%, 6.49%, 6.85% and 8.82% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.