If you live in the Empire State, you probably already know that the tax man takes a decent bite out of your paycheck. But honestly, figuring out exactly how much you owe can feel like trying to read a subway map during rush hour. Between the state rates, the local NYC add-ons, and those weird "tax benefit recapture" rules, it’s a lot.
The ny state tax brackets 2024 are graduated, which is a fancy way of saying the more you make, the higher the percentage you pay on those extra dollars. It isn't a flat tax. You don't just hit a new bracket and suddenly pay that high rate on every single cent you earned. That is a huge misconception that scares people away from raises.
How the NY State Tax Brackets 2024 Actually Work
New York uses nine different tax brackets. For the 2024 tax year—the ones you’re filing for right now in early 2026—the rates start at a modest 4% and climb all the way up to 10.9% for the ultra-wealthy.
If you're a single filer, your first $8,500 of taxable income is hit with that 4% rate. Once you pass that, the next chunk of money up to $11,700 is taxed at 4.5%. It keeps stepping up like that.
Let’s look at the numbers for the most common filing statuses.
Single Filers and Married Filing Separately
For most individuals, the middle-class "sweet spot" is the 5.5% and 6% range.
👉 See also: Why 425 Market Street San Francisco California 94105 Stays Relevant in a Remote World
- $0 to $8,500: 4%
- $8,501 to $11,700: 4.5%
- $11,701 to $13,900: 5.25%
- $13,901 to $80,650: 5.5%
- $80,651 to $215,400: 6%
- $215,401 to $1,077,550: 6.85%
If you’re pulling in $90,000, you aren't paying 6% on the whole $90k. You’re paying 6% only on the amount above $80,650. Everything below that threshold is taxed at the lower rates. This is why "bracket creep" feels annoying but isn't as catastrophic as people think.
Married Filing Jointly
If you’re filing with a spouse, the brackets are basically doubled. This helps avoid the "marriage penalty" where two people pay more together than they would apart.
- $0 to $17,150: 4%
- $17,151 to $23,600: 4.5%
- $23,601 to $27,900: 5.25%
- $27,901 to $161,550: 5.5%
- $161,551 to $323,200: 6%
- $323,201 to $2,155,350: 6.85%
The state also has higher tiers reaching 9.65%, 10.3%, and 10.9% for those making over $2 million, but let's be real—if you're in those brackets, you probably have an accountant named Mortimer handling this for you.
The Standard Deduction: Your First Line of Defense
Before you even look at those brackets, you get to shave some money off your total income. This is the "standard deduction." For 2024, if you’re single, you automatically get to subtract $8,000 from your income. If you’re married filing jointly, that number jumps to $16,050.
Think of it as a "free" zone where the state doesn't touch your money.
✨ Don't miss: Is Today a Holiday for the Stock Market? What You Need to Know Before the Opening Bell
If you’re a Head of Household—basically a single parent or someone supporting a dependent—your deduction is $11,200. These amounts are crucial because they determine your "taxable income," which is the actual number used to see which ny state tax brackets 2024 you fall into.
The NYC and Yonkers "Surprise"
If you live in the five boroughs or Yonkers, I’ve got some "kinda" bad news. You don't just pay state tax. You also pay a local personal income tax. NYC rates for 2024 range from about 3.078% to 3.876%.
When you add the top NYC rate to the top NY State rate, you’re looking at a marginal rate that can exceed 14%. That is one of the highest in the country. It’s the price of living in the center of the universe, I guess.
The "Tax Benefit Recapture" Trap
New York has a quirk that many people miss until they see their tax return. It’s called the "recapture" of tax benefits.
Basically, once your income hits a certain level (usually starting around $107,650 for singles), the state starts taking back the benefit of those lower 4% and 4.5% brackets. They want high earners to pay a flat-ish rate on all their income rather than getting the "discount" of the lower brackets. It's a supplemental tax that can make your effective rate feel a lot higher than your marginal rate suggests.
🔗 Read more: Olin Corporation Stock Price: What Most People Get Wrong
Credits That Actually Save You Money
It’s not all taking; sometimes the state gives back. Governor Hochul recently pushed for several affordability measures that hit the books for 2024 and 2025.
- Empire State Child Credit: This is huge for families. If you have kids under 17, you might get a chunk of change back.
- Earned Income Credit (EIC): For lower-to-moderate-income working individuals and families. NY’s version is usually 30% of the federal credit.
- Solar Energy System Credit: If you put panels on your roof, the state might cover up to 25% of the cost (capped at $5,000).
Actionable Next Steps
Don't just stare at the charts. Do these three things right now to make sure you aren't overpaying.
1. Check your residency status. If you moved in or out of the state during 2024, you’re a "part-year resident." You only owe NY taxes on the money you earned while living there or money earned from NY sources. Don't pay for time you spent in Florida.
2. Look at the Retirement Exclusion. Are you over 59½? New York allows you to exclude up to $20,000 of qualified retirement income (like a private pension or 401k distribution) from your state taxes. This is on top of the fact that Social Security is already non-taxable in NY.
3. Gather your "above-the-line" deductions. Even if you take the standard deduction, you can often subtract things like student loan interest or educator expenses. These lower your Adjusted Gross Income (AGI), which can sometimes drop you into a lower bracket entirely.
The ny state tax brackets 2024 are complex, but the goal is simple: find your taxable income, apply the graduated rates, and don't forget the local taxes if you're a city dweller. If your AGI is over that $107,650 mark, just be prepared for that supplemental tax to kick in.