4 Tax Laws Every New Yorker Needs to Know for Successful 2024 Tax Filing
Saturday, 23 March 2024, 18:00
Essential New York State Tax Laws for 2024 Tax Filings
Filing New York state income taxes involves a few state tax laws that are different from the IRS rules at the federal level. New York taxpayers should be prepared so you can save money and avoid stress at tax time. Let's look at four big New York state tax laws and requirements that could affect your taxes in 2024.
New York tax-filing deadlines (and how to get an extension)
- For most people, the New York tax-filing deadline (for 2023 taxes) is April 15, 2024. If you need a six-month extension, you must apply in advance before your New York tax-filing deadline.
New York standard deduction
- The New York standard deduction for state income taxes is significantly lower than the federal standard deduction.
New York itemized deductions
- New York offers some state income tax deductions that the IRS no longer allows for federal taxes. Get familiar with which set of rules are required for your itemized deductions before you file your New York tax return.
New York tax credits
- New York offers some helpful tax credits that can help you reduce your New York tax bill, such as the Child and Dependent Care Credit and Green Tax Credits.
Bottom Line: Before you file your New York taxes, make sure you have a clear understanding of which state-level deductions and tax credits you might be able to get.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.