| For 2012, NY Governor Andrew Cuomo, annouces an overhaul of New York State’s income tax on individuals!
"As announced recently by New York State Governor Andrew Cuomo, an overhaul of New York State’s income tax on individuals is effective from January 1, 2012, including the following married individuals filing joint returns tax rate changes:
Income Level____________2011 Rate__________2012 Rate
$40,000-150,000__________6.85%______________6.45%
$150,000-300,000_________6.85%______________6.65%
$300,000-500,000_________7.85%______________6.85%
$500,000-2,000,000_______8.97%______________6.85%
Above $2,000,000_________8.97%_____________ 8.82%
The 2011 rates for higher income levels were scheduled to expire at the end of 2011, at which point rates were scheduled to revert to 6.85% on all income at or above $40,000."
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