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Old 07-12-2017, 03:47 PM
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Capital Gains Tax Rate

What is the capital gains tax rate when selling a house in New York?



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Old 07-13-2017, 06:39 AM
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Originally Posted by dusabrive View Post
What is the capital gains tax rate when selling a house in New York?
Like most states that tax capital gains, New York taxes capital gains at the same rate as ordinary income, such as your wages. New York taxes residents using an eight-bracket progressive tax system, where the tax rate increases along with taxpayer income. For single taxpayers, the tax rates on both regular income and capital gains are 4 percent for income up to $8,300;4.5 percent for income from $8,301 to $11,450;5.25 percent from $11,451 to $13,550;5.9 percent for income from $13,551 to $20,850;
6.45 percent from $20,851 to $78,400;6.65 percent for income from $78,401 to $209,250;6.85 percent from $209,251 to $1,046,350;8.82 percent for income of $1,046,351 or more.
For taxpayers filing jointly, these brackets roughly double. For example, the lowest 4 percent bracket extends for joint incomes up to $16,700, while the top bracket applies to incomes of $2,092,801 or more.New York capital gains taxes are among the highest in the nation, with individual rates ranking 7th-highest as of 2013. Nine states don't have any capital gains taxes at allNew York City residents face an additional tax that ranges from 2.907 percent to 3.876 percent. Income and capital gains tax rates for New York City residents are; 2.907 percent for single filers with income up to $12,000, or $21,600 for joint filers;3.534 percent for single filers with income up to $25,000, or $45,000 for joint filers;3.591 percent for single filers with income up to $50,000, or $90,000 for joint filers;3.648 percent for single filers with income up to $500k, same as with joint filers;3.876 percent for single filers with income above $500k for all filers. pleasecontact teh NY jurisdiction for more info in detail



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