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Hi sorry to bug you guys, you must be sick of my questions. I am findimg this forum really worthwhile, however at the sma etime it makes me think about things I have not yet thought of in regards to living in NYC.
I was wondering if anybody could shed some light on the tax system in the USA. In Australia we have just have fedral tax and some of that money goes to the state. i have been reading that in the US you have state and fedral what are the tax rates for new york state and fedral???? Also is there a NYC tax as well????
Yeah there are lots of differen taxes that you have to pay. Federal income taxes, state income taxes, and NYC has its own income tax. Go to google and type in something like "federal tax brackets" and it will explain to you how much it is. There is also a sales tax added to goods purchased at stores, property taxes paid to the local town if you own a house or a condo, and things like capitol gains taxes for profits you make in the stock market.
NYC has one of the highest tax rates in the USA, however it is still fairly low compared to many other countries. I don't know what the tax rates are in Australia, but I know in NZ they are quite low and might even be lower than in the USA.
And health care isn't covered the way it is in Australia, either....
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