New York tax notes
- Top rate 10.9% above $25M (state); NYC adds another 3.876% local. Combined NY/NYC top rate: ~14.776% on the highest earners.
- Property tax averages 1.73% statewide; varies wildly by county (Westchester: ~2.7%; outside NYC: highly variable).
- PTET available — significant savings for high earners with pass-through business income.
Sample tax numbers for New York
Quick orientation — use the full calculator for your actual situation.
Tax moves that matter most for New York
If you have any pass-through business income (S-Corp, partnership, multi-member LLC), New York allows the PTET election that effectively bypasses the federal $10,000 SALT cap on the state income tax portion. Typical savings for high earners: $2k-$15k/year.
At net SE income above ~$80k-$100k, electing S-Corp typically saves $5k-$15k/yr in self-employment tax — the math is largely federal but affects New York state tax via PTET (if applicable).
If you have 1099 income, Solo 401(k) lets you contribute up to $70,000/yr (2025) — far more than SEP-IRA in most cases. Reduces both federal and New York state income tax.
Run your New York numbers
Open the full optimizer with New York pre-selected to see your specific tax picture.
Open the full calculator