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Form it 201

Form it 201

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[Music] we are going to do a state income tax calculation for the state of New York we're going to use a sample salary of 100 000 to see what the taxes look like in the state of New York so we have a hundred thousand dollars is our salary the standard deduction for New York if you check your table is eight thousand dollars for someone who is filing single and that's what we're going to do for the purpose of this example if you are a married filing joint you would do 16 050. so eight thousand and we're gonna take that away from 100 so we're gonna be left with 92 000 and that is our taxable income this is the income we're going to pay taxes on all right now New York has a lot of brackets um it's not the biggest Hawaii I think has the biggest amount but it's certainly up there with the number but the brackets also go up to numbers like 5 million and then 5 million and above so I didn't even include all of them here be

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