New York Statutes

Code Section
Tax 601, et seq. Ch. 60 §601

Who is Required to File
Individuals, estates and trusts, and nonresidents on income derived from New York sources; Partnerships are not taxable; New York City taxes resident individuals, estates, and trusts on their city taxable income; Partnerships are not taxable (§§11-1701, et seq.); A city income tax surcharge of 5% of net state tax is imposed on resident individuals, estates, and trusts of Yonkers

Rate
First $16,000, 4%; Next $6,000, 4.5%; Next $4,000, 5.25%; Next $14,000, 5.9%; Next $110,000, 6.85%; Next $350,000, 7.375%; Over $500,000, 7.7%; (for Tax Year 2004). First $16,000, 4%; Next $6,000, 4.5%; Next $4,000, 5.25%; Next $14,000, 5.9%; Next $110,000, 6.85%; Next $350,000, 7.25%; Over $500,000, 7.7%; (for Tax Year 2005).

Federal Income Tax Deduction
No

Federal Income used as Basis
Yes


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