What comes out of a New York paycheck
- Federal income tax — IRS Publication 15-T percentage method from your W-4.
- Social Security and Medicare — 6.2% up to $184,500 and 1.45% (plus 0.9% above $200,000).
- New York State income tax — withheld with the NYS-50-T exact-calculation method: wages minus a $7,400 (single) or $7,950 (married) deduction allowance and $1,000 per IT-2104 allowance, taxed at graduated rates starting at 3.9%.
- NYC resident tax — 2.05% to 4.25% for people who live in the five boroughs. Yonkers residents pay a surcharge of 16.75% of their state withholding instead.
- NY SDI and Paid Family Leave — 0.5% up to $0.60 a week, and 0.432% up to $411.91 a year.
New York City vs the rest of the state
At $100,000, living in the city costs about $3,723 a year in extra tax ($70,118 vs $73,842). At $150,000 a single NYC resident keeps about $98,962. Compared with Florida, where the same $100,000 nets $79,180, an NYC resident gives up about $9,062 a year — try it in the comparison tool.
Pre-tax benefits
New York follows the federal rules: traditional 401(k) deferrals, HSA contributions and Section 125 health premiums all reduce New York State and NYC taxable wages. That makes a 401(k) dollar especially cheap for city residents — it skips federal, state and city tax at once.