Summer Analyst Tax Rate in NYC
Anyone know what $70k prorated is taxed at in NYC these days?
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I'm pretty sure it's taxed the same as those who receive 70k annually. You are just going to get a big tax refund come next April.
Concurred. Expect for 40% of pretax to be withheld when all the taxes are considered. You will get a kickback from uncle sam for excess withholdings.
NYC/NY State Summer Analyst Income Taxes (Originally Posted: 12/21/2011)
I was a summer analyst in NYC this past summer; I believe starting in January we can file for the state and/or city income taxes. I had quite a bit taken out for state/city income taxes (made about $14k total and paid over $1k in state/city income taxes over the course of the summer).
Should I expect a refund? If so, is it possible to file myself or do I pretty much need a tax professional to help?
I'm no CPA, but paying 7% of your gross pay in taxes doesnt sound right. You might owe $$...
Holy fuck you paid nothing for taxes? How is that even possible?
i made about 14k also, put i paid like 4k in taxes.
He paid 1k for state/city income tax, i'm sure he paid more in addition to that for federal tax which he is not including in the 1k. I think state income tax is around 6% and city income tax is around 3% (9% of 14k = $1,260). You may owe a small amount, however i think you will probably be given a rebate. I doubt all of the 14k is eligible to be taxed, i am sure you can get student credit etc.
http://www.paycheckcity.com/calculator/netpay/us/new%20york/result.html. A blumpkin in return would be nice..
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