AmericanCreamer t1_j9emzdl wrote on February 21, 2023 at 10:48 AM

Reply to comment by the_lamou in PSA: New York State tax brackets are not what they seem by PostPostMinimalist

Not what he’s saying though. Normally, well for federal taxes, bonus is withheld at the top marginal rate, but NYS withholds rate that’s higher than what’s even possible

HowDoWeAccountForMe2 t1_j9eujt6 wrote on February 21, 2023 at 12:22 PM

That's not true either Fed bonuses are taxed at 22% which is the 3rd of 7 tax brackets. Right in the median household income.

This would be like the fed government holding bonuses at 37% and then a extra few percent as an added FU.

kiklion t1_j9ewz10 wrote on February 21, 2023 at 12:46 PM

> That's not true either Fed bonuses are taxed at 22% which is the 3rd of 7 tax brackets.

I guess for you poors... /s

> For payments exceeding $1 million, the rate is 37 percent.

> https://www.irs.gov/newsroom/for-small-business-week-backup-withholding-rate-now-24-percent-bonuses-22-percent-workers-urged-to-do-a-paycheck-checkup