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tonydebella
New Member

It seems like the software is calculating NYS tax based on the 2018 Tax brackets. The 6.33% bracket should be at 6.21%. Legislation was passed to reduce rate by .12%

 
2 Replies
LindaB1993
Expert Alumni

It seems like the software is calculating NYS tax based on the 2018 Tax brackets. The 6.33% bracket should be at 6.21%. Legislation was passed to reduce rate by .12%

Based on my review and analysis, the tax bracket has been updated to 6.21% for 2019.  This percentage is subject to change in accordance with your filing status  and different income brackets.

 

Please review the detail reflected in the the following tax table for 2019.

 

NYS tax rates for 2019

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Garyg800
New Member

It seems like the software is calculating NYS tax based on the 2018 Tax brackets. The 6.33% bracket should be at 6.21%. Legislation was passed to reduce rate by .12%

I agree that the user seems to have a point.  On taxable income of $89,748, the NYS tax liability is calculalated by the TurboTax program as $5,011 - but it should be $4,996 - computed as:

 

$89,748 - 43,000 = 46,748

Tax on $43,000 =                $2,093

Tax on $46,748 X .0621 =   2,903

Total                                       $4,996

 

Hey, only an error of $15 but it almost buys a case of Rolling Rock.

This should be researched and resolved.

 

Thanks - Gary

 

 

 

 

 

 

 

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