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Incorrect NY State Tax Calculation
I was trying to do NYS tax, but I found the calculation wrong for line 39. It applied the flat tax rate of my tax bucket to line 38 rather than doing the calculation found on page 57 of IT-201 instruction.
I also found the same error in the enhanced IT-201 found on ny.gov.
I.e. if my taxable income is 300k, it shows NYS tax to be 300k*6,85%=20550 rather than (300k-215400)*6.85%+13288=19083.
Could someone confirm this for me? Thank you
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‎February 18, 2021
10:18 PM