The US State of New York introduced a wealth tax in its 2021-22 budget.
New York will increase the top state personal income tax rate from 8.82 percent to 9.65 percent for those whose income is over $1 million.
For joint filers, this rate will apply to those whose total income exceeds $2 million.
The New York Senate has also established two new tax brackets.
Those earning over $5 million in a single year will pay tax at a rate of 10.3 percent, while thos...
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