The Combined Rate accounts for Federal, State, and Local tax rate on capital gains income, the 3.8 percent Surtax on capital gains and the marginal effect of Pease Limitations (which results in a tax rate increase of 1.18 percent).
New York has "tax benefit recapture," by which many high-income taxpayers pay their top tax rate on all income, not just on amounts above the benefit threshold.
100 Crossways Park West, Suite 215, Woodbury NY 11797
50 Chapel Street, Albany NY 12207
1975 Hempstead Tpke., Suite 201, East Meadow NY 11554
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515 Rockaway Avenue, Valley Stream NY 11581-1917