Search results
Results from the WOW.Com Content Network
The New York State Department of Taxation and Finance (NYSDTF) is the department of the New York state government [1] responsible for taxation and revenue, including handling all tax forms and publications, and dispersing tax revenue to other agencies and counties within New York State.
The New York State Department of Motor Vehicles (NYSDMV or DMV) is the department of the New York state government [1] responsible for vehicle registration, vehicle inspections, driver's licenses, learner's permits, photo ID cards, and adjudicating traffic violations. Its regulations are compiled in title 15 of the New York Codes, Rules and ...
Learn how to claim a vehicle sales tax deduction and lessen your tax burden. Find out who qualifies and how you can claim and calculate your deduction.
As of 2017, all but Saratoga, Warren, Washington and Westchester counties in New York charge a higher sales tax rate than the 3% default rate. The combined sales tax in Utica, for example, is 8.75%. In New York City, total sales tax is 8.875%, which includes 0.375% charged in the Metropolitan Commuter Transportation District (MCTD).
The state and local tax (SALT) deduction allows taxpayers to deduct up to $10,000 of the money they spent on certain state and local taxes — including property, income and sales tax.
Many cities, counties, transit authorities and special purpose districts impose an additional local sales or use tax. Sales and use tax is calculated as the purchase price times the appropriate tax rate. Tax rates vary widely by jurisdiction from less than 1% to over 10%. Sales tax is collected by the seller at the time of sale.
Amid the 1970s energy crisis, Congress passed the Revenue Act of 1978, which eliminated the deduction for state and local taxes on gasoline and motor vehicle fuel. [ 17 ] [ 20 ] The Tax Reform Act of 1986 disallowed sales taxes from being deducted, while the American Jobs Creation Act of 2004 gave taxpayers the option of deducting either state ...
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.