1. What is the NYC Salary Tax Calculator?

The New York City Salary Tax Calculator estimates your total tax burden for 2024-2025, including federal income tax, New York State tax, New York City local tax, and FICA (Social Security and Medicare) contributions.

2. How Does the Calculator Work?

The calculator uses current tax brackets and rates for:

Where:

• Federal Tax — Progressive tax based on IRS brackets
• NY State Tax — Progressive tax based on New York brackets
• NYC Tax — Local income tax for NYC residents
• FICA — Social Security (6.2% up to wage base) + Medicare (1.45% + 0.9% for high earners)

3. Understanding NYC Taxes

Details: New York City residents pay four layers of income taxes: federal, state, city, and payroll taxes. This calculator combines all four for a complete picture of your tax burden.

4. Using the Calculator

Tips: Enter your annual salary before taxes and select your filing status. The calculator will estimate your total tax burden for 2024-2025.

5. Frequently Asked Questions (FAQ)

Q1: Are these tax rates accurate for 2024-2025?
A: The calculator uses projected rates for 2024-2025 based on current tax laws. Always consult a tax professional for precise calculations.

Q2: Does this include deductions or credits?
A: No, this is a simplified calculator that doesn't account for deductions, credits, or other tax adjustments.

Q3: Why is NYC tax separate from NY State tax?
A: New York City imposes an additional local income tax on top of state taxes, which only applies to NYC residents.

Q4: What about property or sales taxes?
A: This calculator only estimates income-related taxes, not other taxes you may owe.

Q5: How accurate is this for high earners?
A: The calculator includes the additional Medicare tax for high earners but may not capture all complexities of high-income taxation.