Why Does Yonkers Have A Special Tax? (Solution)

  • Because for the last decade the state has frozen, and even reduced, Yonkers’ municipal revenue sharing. It raises the tax rates on annual incomes of $300,000. Taxes and your stimulus check have a special bond this year. If you live in Yonkers and work in NYC, you will be taxed by Yonkers on your NY State return for your Yonkers residency.

What is the Yonkers tax?

Effective July 1, 2021, the New York supplemental wage tax rate increased to 13.78% (previously 9.62%) and the Yonkers resident supplemental wage tax rate increased to 2.30815% (previously 1.61135%). The Yonkers nonresident supplemental wage tax rate remains 0.5%.

Are Yonkers taxes higher than NYC?

The Yonkers income tax rate is 16.75% of your New York State tax obligation. This just makes it more expensive to live in New York State and Yonkers.

Why do taxes Ask about Yonkers?

The purpose of the question is to see if you live in either to calculate the correct local taxes. When it asks you if you were in Yonkers, you say no. You do not need to adjust your W-2, because it is reporting to NYC already.

Do Yonkers residents pay NYC tax?

Residents of Yonkers are subject to the Yonkers Resident Withholding Tax. This tax applies to any services performed or employment in New York City or elsewhere in New York State. The conditions for this tax are similar to those for the New York City Payroll Tax.

Does Yonkers have a city tax?

Important Notice: The City of Yonkers mails one (1) City tax bill and one (1) County tax bill per year. If you do not receive your City tax bill by July or your County bill by April please call the Tax Office.

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What is the meaning of Yonkers?

(ˈjɒŋkəz ) noun. a city in SE New York State, near New York City on the Hudson River.

Do I pay Yonkers tax if I don’t live there?

You are not taxed in NYC unless you are a resident of NYC, and you are not taxed in Yonkers if you did not live or work in Yonkers. When you prepare the New York resident return (for New York State), NYC resident and Yonkers resident or nonresident wage tax is reconciled as part of the state return.

Do Bronxville residents pay Yonkers tax?

There are parts of Bronxville, outside the village that land in Yonkers. So you will have a Bronxville PO box but Yonkers schools. All residents of Yonkers have to pay an income tax surcharge of 16.75% of their net state income, more info can be found at http://on.ny.gov/1tfAFjy.

Why is Turbotax asking about Yonkers?

The New York State Tax return, Form IT-201 is used not only for the state income tax, but for income tax for New York City and Yonkers, as well as the Metropolitan Commuter Transportation Mobility Tax (MCTMT). That’s why you’re being asked about Yonkers. If you don’t live in Yonkers, you are a non-resident of Yonkers.

Do you pay NYC tax if you live in Westchester?

I work in NYC, but I lived in Westchester county all year (Mount Vernon) am I a yonkers resident? or nyc resident? No to both. Since you don’t have income from Yonkers, you won’t be subject to the Yonkers Nonresident Income tax, and since you don’t live in NYC, you won’t be subject to NYC income tax.

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Is Yonkers a good place to live?

Yonkers is second safest city in America, according to WalletHub study. Yonkers has been rated as the second safest city in America, according to a WalletHub study. The ranking for the city of hills came only after Columbia, Maryland in the company’s analysis of 182 localities.

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