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Lower Taxes

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LOWEST TAX RATE IN 58 YEARS

FOR MIDDLE CLASS NEW YORKERS

Effective January 1st, middle class families and small businesses will now save nearly $1 billion in taxes.


4.4 million middle class New Yorkers will now…

  • pay the lowest tax rate in 58 years with the restructured tax code.
  • save an average of $300 to $400 a year on their income tax.
  • save a total of $690 million next year on taxes.



Over 700,000 taxpayers who own small businesses and or make less than $50,000 in self-employed income will now…

  • save $250 million with the reduction of the MTA payroll tax.

Learn more about Governor Cuomo’s bold plan to stimulate
the economy and bring fairness to the tax code:


Income Level Previous Tax Rate New Tax Rate
$40,000 to $150,000 6.85% 6.45%
$150,000 to $300,000 6.85% 6.65%
$300,000 to $2 million 7.85% - 8.97% 6.85%
Over $2 million 8.97% 8.82%

Follow Twitter for more facts about how
the tax code will effect New Yorkers.