We will be moving to NYS next year so I wanted to compare this year's income in our current state to what we would have paid in NY.
In the TurboTax NYS return with a taxable income of $16,116, it is saying the tax owed is $722. But on the NYS tax tables it is $524. Turbotax's Tax Computation worksheet is blank because the income is below $107K. So how did it come up with $722?
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You are looking at the wrong tax table. You scrolled down to the New York City Tax Table. For taxable income of $16,116 the New York State tax is $722. The New York City tax is $524.
But those amounts are for a filing status of single or married filing separately. In your question you said "we" and "our." That sounds like you should be filing as married filing jointly. Check the filing status on the hypothetical New York return that you are preparing, and make sure you look in the column for the correct filing status in the tax table.
You are looking at the wrong tax table. You scrolled down to the New York City Tax Table. For taxable income of $16,116 the New York State tax is $722. The New York City tax is $524.
But those amounts are for a filing status of single or married filing separately. In your question you said "we" and "our." That sounds like you should be filing as married filing jointly. Check the filing status on the hypothetical New York return that you are preparing, and make sure you look in the column for the correct filing status in the tax table.
Thank you rjs, I wasn't seeing the difference between the NYCity and NYState charts. And the tax would be for a single individual so the calculation of $722 is correct.
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