New York Closing Withholding
Description
How to fill out New York Closing Statement?
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FAQ
If you don't want to reveal to your employer that you have a second job, or that you get income from other non-job sources, you have a few options: On line 4(c), you can instruct your employer to withhold an extra amount of tax from your paycheck. Alternatively, don't factor the extra income into your W-4.
The state as a whole has a progressive income tax that ranges from 4. % to 10.9%, depending on an employee's income level. There is also a supplemental withholding rate of 11.70% for bonuses and commissions.
New York State payroll taxes for 2023 Calculating taxes in New York is a little trickier than in other states. The state as a whole has a progressive income tax that ranges from 4. % to 10.9%, depending on an employee's income level. There is also a supplemental withholding rate of 11.70% for bonuses and commissions.
If you want to get close to withholding your exact tax obligation, claim 2 allowances for yourself and an allowance for however many dependents you have (so claim 3 allowances if you have one dependent).
A larger number of withholding allowances means a smaller New York income tax deduction from your paycheck, and a smaller number of allowances means a larger New York income tax deduction from your paycheck.