New York: Who Pays? 7th Edition
New York
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All figures and charts show 2024 tax law in New York, presented at 2023 income levels. Senior taxpayers are excluded for reasons detailed in the methodology. Our analysis includes nearly all (99.9 percent) state and local tax revenue collected in New York.
State and local tax shares of family income
| Top 20% | |||||||
| Income Group | Lowest 20% | Second 20% | Middle 20% | Fourth 20% | Next 15% | Next 4% | Top 1% |
| Income Range | Less than $24,200 | $24,200 to $48,100 | $48,100 to $86,400 | $86,400 to $144,000 | $144,000 to $334,600 | $334,600 to $880,900 | Over $880,900 |
| Average Income in Group | $13,900 | $36,200 | $65,900 | $116,300 | $198,800 | $509,300 | $2,050,400 |
| Sales & Excise Taxes | 6.1% | 5.1% | 4.3% | 3.5% | 2.8% | 1.7% | 0.9% |
| General Sales–Individuals | 3.1% | 2.9% | 2.5% | 2% | 1.6% | 0.8% | 0.3% |
| Other Sales & Excise–Ind | 1.3% | 0.7% | 0.5% | 0.3% | 0.2% | 0.1% | 0% |
| Sales & Excise–Business | 1.6% | 1.5% | 1.3% | 1.1% | 1% | 0.7% | 0.6% |
| Property Taxes | 6.2% | 4.4% | 3.9% | 4.6% | 5.2% | 4.1% | 3.5% |
| Home, Rent, Car–Individuals | 5.2% | 3.4% | 3.1% | 3.8% | 4.2% | 3% | 1.1% |
| Other Property Taxes | 1% | 0.9% | 0.8% | 0.8% | 0.9% | 1.1% | 2.4% |
| Income Taxes | -1.2% | 2.2% | 5% | 5.7% | 5.8% | 7% | 9.1% |
| Personal Income Taxes | -1.3% | 2.2% | 4.9% | 5.7% | 5.7% | 6.8% | 8.9% |
| Corporate Income Taxes | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.3% |
| Other Taxes | 0.1% | 0% | 0% | 0% | 0% | 0% | 0% |
| TOTAL TAXES | 11.1% | 11.8% | 13.3% | 13.8% | 13.8% | 12.8% | 13.5% |
| Individual figures may not sum to totals due to rounding. | |||||||
ITEP Tax Inequality Index
New York has a hybrid system that is progressive through some parts of the income distribution and regressive through other parts. On balance, the overall system tilts slightly progressive according to ITEP’s Tax Inequality Index because low-income families pay somewhat lower tax rates than other groups. New York ranks 48th on the Index, meaning that two states and the District of Columbia have more progressive systems. (See Appendix B for state-by-state rankings and the report methodology for additional detail.)
Tax features driving the data in New York
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Requires combined reporting for the corporate income tax but excludes profits booked overseas, including in tax haven countries
Refundable Earned Income Tax Credit (EITC) in New York State and an additional credit in New York City
Graduated personal income tax structure with separate brackets for millionaires
Graduated rate structure for NYS and NYC real estate transfer taxes
Refundable Child Tax Credit through the Empire State Child Credit
Refundable dependent care tax credit
Sales tax base excludes groceries
Levies a state estate tax
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Comparatively high combined state and local sales tax rates
Offers itemized deductions
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