Institutional Federal Compliance Report 2021

230 • STATE OF NEW YORK _____________________________________________________________________________________________

Personal Income Tax Rates LAST TEN CALENDAR YEARS

Top Income Tax Rate is Applied to Taxable Income in Excess of Married

Average Effective Rate (1)

Top Rate

Filing Jointly

Head of Household $ 500,000

Year

Single

2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8.97% 8.97% 8.97% 8.82% 8.82% 8.82% 8.82% 8.82% 8.82% 8.82%

$ 500,000

$ 500,000

3.53% 3.76% 3.99% 3.90% 4.12% 3.89% 4.09% 4.03% 3.85% 4.30%

500,000 500,000 1,000,000 1,029,250 1,046,350 1,062,650 1,070,350 1,077,550 1,077,550

500,000 500,000 2,000,000 2,058,550 2,092,800 2,125,450 2,140,900 2,155,350 2,155,350

500,000 500,000 1,500,000 1,543,900 1,569,550 1,594,050 1,605,650 1,616,450 1,616,450

Source: New York State Department of Taxation and Finance (www.tax.ny.gov) Notes: (1) Fiscal year personal income tax collections divided by prior-year personal income. Refer to Exhibit: Demographic and Economic Statistics I for personal income and population data. Refer to Exhibit: Tax Receipts by Source for personal income tax collections.