NYC Wage Calculator
Estimate your take-home pay in New York City, factoring in federal, state, and city taxes, along with common deductions.
Understanding Your NYC Paycheck
Navigating your paycheck in New York City can be complex due to multiple layers of taxation. Unlike many other places, NYC residents are subject to federal, New York State, and New York City income taxes, in addition to federal payroll taxes like Social Security and Medicare. This calculator helps you break down these deductions to estimate your actual take-home pay.
Federal Income Tax
This is the largest component of most paychecks. The amount withheld depends on your gross income, filing status (Single, Married Filing Jointly, Head of Household), and any pre-tax deductions you make. The U.S. operates on a progressive tax system, meaning higher earners pay a higher percentage of their income in taxes.
FICA Taxes (Social Security & Medicare)
- Social Security: This funds retirement, disability, and survivor benefits. Employees contribute 6.2% of their earnings up to an annual wage base limit (e.g., $168,600 for 2024).
- Medicare: This funds health insurance for seniors and the disabled. Employees contribute 1.45% of all earnings, with an additional 0.9% tax on earnings above certain thresholds ($200,000 for single filers, $250,000 for married filing jointly).
New York State Income Tax
New York State also has a progressive income tax system. The rates and brackets vary based on your income and filing status. Like federal taxes, pre-tax deductions reduce your taxable income for state purposes.
New York City Income Tax
As a resident of New York City, you are subject to an additional city income tax. This is also a progressive tax, with rates and brackets specific to NYC, applied after state deductions. This is a significant factor that differentiates NYC paychecks from those in other parts of New York State.
Pre-Tax vs. Post-Tax Deductions
- Pre-Tax Deductions: These are amounts taken out of your gross pay before taxes are calculated. Common examples include contributions to a 401(k) or traditional IRA, health insurance premiums, and Flexible Spending Accounts (FSAs). These deductions reduce your taxable income, lowering your overall tax liability.
- Post-Tax Deductions: These are taken out of your pay after all taxes have been calculated. Examples include Roth 401(k) contributions, union dues, or certain charitable contributions. While they don't reduce your taxable income, they still impact your net take-home pay.
How the Calculator Works
Our NYC Wage Calculator takes your gross income (annual salary or hourly wage), pay frequency, filing statuses, and any pre-tax or post-tax deductions into account. It then applies the latest federal, New York State, and New York City tax brackets, along with FICA taxes, to provide an estimated breakdown of your annual and per-pay-period take-home pay.
Disclaimer: This calculator provides estimates based on current tax laws and common deductions. It is not financial or tax advice. Individual tax situations can vary significantly due to factors like itemized deductions, tax credits, other income sources, and specific employer benefits. Consult with a qualified financial advisor or tax professional for personalized advice.