How many New Yorkers actually pay the state’s millionaires tax?
We analyzed the latest New York State Department of Taxation and Finance data and found:
• Only one in 38 state income-tax filers are subject to the high-income surcharge.
• 32,810 filers in the state made over $1 million in 2008; meanwhile, more than 3.3 million filers made less than $20,000.
• Some striking facts: In the southeast Bronx’s 86th Assembly District (Castro-D), no more than 18 taxpayers pay the tax. In the 48th Senate District (Ritchie-R) in northern New York, fewer than one in 200 filers are subject to the tax.
Check out our new district profiles to see how your area stacks up. Not sure what district you live in? Find out here.
The millionaires tax is scheduled to expire on December 31 – leaving a multi-billion dollar gap in the state’s budget. It’s essentially a tax cut for the few at our expense. Visit the 99 New York website to find out more.
