1. What is the NY Salary Tax Calculator?

The NY Salary Tax Calculator estimates your total tax burden for 2024-2025, including federal, state, NYC (if applicable), and FICA taxes. It helps New York residents and workers understand their take-home pay.

2. How Does the Calculator Work?

The calculator uses current tax brackets and rates for:

• Federal Income Tax (2024 brackets)
• New York State Tax
• New York City Tax (for residents)
• FICA (Social Security and Medicare)

3. Understanding NY Taxes

Details: New York has progressive state tax rates, and NYC residents pay additional local taxes. FICA is a flat tax up to the Social Security wage base.

4. Using the Calculator

Tips: Enter your annual salary before taxes, select your filing status, and indicate if you're an NYC resident. The calculator will estimate your tax burden.

5. Frequently Asked Questions (FAQ)

Q1: Are these tax rates accurate for 2024-2025?
A: This calculator uses projected rates. Always consult a tax professional for precise calculations.

Q2: Why is NYC tax separate?
A: Only residents of New York City pay the additional local income tax.

Q3: What's not included in this calculator?
A: Local taxes outside NYC, deductions, credits, or other special circumstances aren't included.

Q4: How often are tax brackets updated?
A: Federal and state brackets are typically adjusted annually for inflation.

Q5: What's the Social Security wage base?
A: For 2024, Social Security tax applies only to the first $168,600 of earnings.