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Federal taxes are the same everyplace in the country...for everyone...and vary on many factors like income level, deductions, exemptions, etc. but, the identical someone (if that ever really happens) in Calif would pay the same as some one in Ohio and all the same as someone in NY ..... except that the State taxe you pay is a deduction against your federal income....and that may be different in every state.

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Income tax in New York State for minors?

Minors are subject to both state and federal income taxes just like adults.There are no age limits on income taxes.


What are the inheritance taxes rates in New York?

No New York does not have an inheritance tax. Only 11 states do have one enacted. Seventeen states have estate taxes, but New York does not have one.


Are interest and dividend taxes paid in New Hampshire deductible on the Federal Schedule A?

Yes.


You just inherited money from a relative who died in New York you live in Rhode Island which has an inheritance tax transfer tax Are you responsible for the RI tax?

First, Rhode Island doesn't have an inheritance tax, it has an estate tax - there is a difference but unless you are going to be handling interstate estate matters, don't worry about it. Regardless of whether Rhode Island has inheritance tax or an estate tax, if the deceased was a New York resident and the property was in New York, only the New York taxes would be levied. New York would collect the taxes from the estate, however, if the executor somehow paid you and didn't pay the New York taxes then New York could collect the taxes, penalties and interest from you. Tax attorney/CPA


What is the NY State tax on inheritance?

I live I Indiana and received an inheritance from a relative in New York. I received a K-1 form showing amounts to use on tax form. What form do I need to use to report this. Do I owe taxes to New York or only need to show the amounts on Federal and Indiana tax forms?

Related Questions

Which power is shared by the federal government and the new york state government?

levying taxes


You worked 36 years for the state of new york you moved to Texas in 2006 you just learn that you still have to pay federal taxes why?

if you have paid taxes for this long, how can you live on your 31.000 a year retirement check and still pay federal taxes every year?


Income tax in New York State for minors?

Minors are subject to both state and federal income taxes just like adults.There are no age limits on income taxes.


Is free tax return filing for state taxes available in New York?

This is an easy one. If you qualify for free federal taxes on TurboTax they will allow you to file free for the state tax. The site is www.TurboTax.com.


What are the inheritance taxes rates in New York?

No New York does not have an inheritance tax. Only 11 states do have one enacted. Seventeen states have estate taxes, but New York does not have one.


Who sponsors the New York Giants?

The citizens of New York pay taxes to support the New York Giants


What were taxes like in colonial New York?

Everyone was taxed in colonial new york. :)


What is the correct adjective for New Jersey?

New York is the proper adjective for New York, as in New York state of mind, New York bagels, and New York income taxes.


What is 2500 after taxes in ny?

To determine the amount left after taxes on a $2,500 income in New York, you need to consider both federal and state taxes. Assuming a combined tax rate (including federal, state, and local taxes) of around 30% for an average income, you would subtract approximately $750 in taxes, leaving you with about $1,750 after taxes. However, the exact amount can vary based on individual circumstances, such as specific deductions and tax brackets.


What Federal Reserve Bank regulates the second Federal Reserve District?

The second district in the Federal Reserve System is regulated by the Federal Reserve Bank of New York. This includes New York, and part of New Jersey.


How do I record federal taxes paid in QuickBooks?

To record federal taxes paid in QuickBooks, you can create a new expense account for federal taxes and then enter the payment as an expense transaction in the software. Make sure to categorize the payment under the federal taxes account to accurately track and report your tax payments.


How much is plane ticket from russia to New York?

Flight ticket from Russia to New Work is $568 avg/person include all taxes .