Short-Term (1 year or less)
Long-Term (more than 1 year)
This is your *ordinary income* federal tax rate, not the capital gains rate.
This helps determine your NY state tax rate.
Estimated Capital Gains Tax in New York
$0.00
Understanding New York Capital Gains Tax
Capital gains tax is levied on the profit made from selling an asset that has appreciated in value. In New York, this includes gains from stocks, bonds, real estate, and other investments. Both the federal government and New York State impose taxes on these profits, and understanding how they are calculated is crucial for investors.
Federal Capital Gains Tax
The federal tax treatment of capital gains depends on the holding period:
Short-Term Capital Gains: Assets held for one year or less are taxed at your ordinary income tax rates.
Long-Term Capital Gains: Assets held for more than one year are taxed at preferential lower rates: 0%, 15%, or 20%, depending on your taxable income.
New York State Capital Gains Tax
New York State treats capital gains as ordinary income. This means that regardless of how long you held the asset, your capital gains are added to your other income and taxed at your applicable New York State income tax rate. The state has a progressive tax system, with rates ranging from 4% to 10.9% (as of recent tax years).
The New York State tax rate you pay on your capital gains is determined by your total New York State taxable income. For example:
If your NY taxable income falls into a bracket with a 4% rate, your capital gains will be taxed at 4%.
If your NY taxable income falls into a bracket with a 6.85% rate, your capital gains will be taxed at 6.85%.
If your NY taxable income falls into the highest bracket (e.g., for single filers with income over $25,000,000), the rate can reach up to 10.9%.
Note: The specific income thresholds for each tax bracket can change annually. For precise details, consult the official New York State Department of Taxation and Finance website or a tax professional.
How the Calculator Works
This calculator estimates your New York State capital gains tax liability. It performs the following steps:
Calculate Capital Gain: It subtracts the 'Asset Purchase Price (Cost Basis)' from the 'Asset Sale Price'.
Determine Applicable NY Tax Rate: Based on your 'NY State Taxable Income', it identifies the marginal New York State income tax rate. The calculator uses common brackets to approximate this rate.
Calculate NY Capital Gains Tax: It multiplies the 'Capital Gain' by the determined 'NY State Tax Rate'.
Federal Consideration (Informational): While this calculator focuses on NY state tax, the 'Federal Income Tax Bracket' input is included to show you your potential federal tax liability, which is calculated separately. Federal long-term capital gains rates are typically lower than ordinary income rates.
Example Scenario
Let's say you purchased a stock for $50,000 (cost basis) and sold it for $150,000 after holding it for 3 years (long-term). Your total New York State taxable income is $80,000. Your federal tax bracket is 24%.
Capital Gain: $150,000 – $50,000 = $100,000
Estimated NY Tax Rate: With $80,000 in NY taxable income, your marginal rate might be around 6.85%.
Estimated NY Capital Gains Tax: $100,000 * 6.85% = $6,850
Estimated Federal Tax: Since this is long-term, your federal rate would be the long-term capital gains rate (likely 15% for this income level), not your 24% ordinary income rate. $100,000 * 15% = $15,000.
Therefore, in this example, you would owe approximately $6,850 in New York State capital gains tax and an additional $15,000 in federal capital gains tax.
Disclaimer
This calculator provides an estimate for educational purposes only. Tax laws are complex and subject to change. Consult with a qualified tax professional or refer to official IRS and New York State Department of Taxation and Finance publications for advice specific to your situation.
function calculateNYCapitalGainsTax() {
var assetCostBasis = parseFloat(document.getElementById("assetCostBasis").value);
var assetSalePrice = parseFloat(document.getElementById("assetSalePrice").value);
var holdingPeriod = document.getElementById("holdingPeriod").value;
var federalTaxBracket = parseFloat(document.getElementById("federalTaxBracket").value);
var nyStateIncome = parseFloat(document.getElementById("nyStateIncome").value);
var resultElement = document.getElementById("result");
var taxAmountElement = document.getElementById("taxAmount");
var taxDetailsElement = document.getElementById("taxDetails");
// Clear previous results and error messages
taxAmountElement.textContent = "$0.00";
taxDetailsElement.textContent = "";
// Input validation
if (isNaN(assetCostBasis) || assetCostBasis <= 0) {
taxDetailsElement.textContent = "Please enter a valid asset purchase price.";
return;
}
if (isNaN(assetSalePrice) || assetSalePrice <= 0) {
taxDetailsElement.textContent = "Please enter a valid asset sale price.";
return;
}
if (isNaN(federalTaxBracket) || federalTaxBracket 100) {
taxDetailsElement.textContent = "Please enter a valid federal tax bracket percentage (0-100%).";
return;
}
if (isNaN(nyStateIncome) || nyStateIncome < 0) {
taxDetailsElement.textContent = "Please enter a valid New York State taxable income.";
return;
}
var capitalGain = assetSalePrice – assetCostBasis;
if (capitalGain <= 0) {
taxAmountElement.textContent = "$0.00";
taxDetailsElement.textContent = "There is no capital gain (or there is a loss). No capital gains tax is due.";
return;
}
// — New York State Tax Rate Calculation —
// Approximate NY marginal tax rates based on taxable income for single filers (can vary)
// These are simplified for the calculator. Refer to NYS Tax Dept for exact brackets.
var nyStateTaxRate = 0;
if (nyStateIncome <= 8500) { // Up to $8,500
nyStateTaxRate = 0.04;
} else if (nyStateIncome <= 11700) { // $8,501 to $11,700
nyStateTaxRate = 0.04; // Still 4% for this range
} else if (nyStateIncome <= 13850) { // $11,701 to $13,850
nyStateTaxRate = 0.045;
} else if (nyStateIncome <= 16050) { // $13,851 to $16,050
nyStateTaxRate = 0.055;
} else if (nyStateIncome <= 19250) { // $16,051 to $19,250
nyStateTaxRate = 0.0645;
} else if (nyStateIncome <= 21450) { // $19,251 to $21,450
nyStateTaxRate = 0.0665;
} else if (nyStateIncome <= 79250) { // $21,451 to $79,250 (approx median range)
nyStateTaxRate = 0.0685;
} else if (nyStateIncome <= 100000) { // $79,251 to $100,000
nyStateTaxRate = 0.0785;
} else if (nyStateIncome <= 150000) { // $100,001 to $150,000
nyStateTaxRate = 0.0835;
} else if (nyStateIncome <= 200000) { // $150,001 to $200,000
nyStateTaxRate = 0.0885;
} else if (nyStateIncome <= 250000) { // $200,001 to $250,000
nyStateTaxRate = 0.0935;
} else if (nyStateIncome <= 300000) { // $250,001 to $300,000
nyStateTaxRate = 0.0965;
} else if (nyStateIncome <= 500000) { // $300,001 to $500,000
nyStateTaxRate = 0.103;
} else if (nyStateIncome <= 1000000) { // $500,001 to $1,000,000
nyStateTaxRate = 0.1075;
} else { // Over $1,000,000 (excluding highest bracket for simplicity)
nyStateTaxRate = 0.109; // Top rate for most high earners
}
var nyCapitalGainsTax = capitalGain * nyStateTaxRate;
// — Federal Long-Term Capital Gains Rates (Approximate for informational purposes) —
// These rates depend on total taxable income, not just NY State Income.
// This is a simplified lookup based on common thresholds for federal brackets.
var federalLongTermRate = 0;
var federalTaxableIncomeEstimate = nyStateIncome + capitalGain; // Rough estimate, actual federal AGI/TI needed
// These federal thresholds are very general and should be verified for the specific tax year.
// For simplicity, we'll assume if federalTaxBracket is lower than 15%, it might imply a 0% LTCG rate.
// If federalTaxBracket is 24% or higher, it might imply 15% or 20% LTCG.
if (federalTaxBracket <= 15) { // This is an oversimplification. Actual federal taxable income matters.
federalLongTermRate = 0;
} else if (federalTaxBracket 24%
federalLongTermRate = 0.20;
}
var federalCapitalGainsTax = 0;
var federalTaxDetails = "";
if (holdingPeriod === "long") {
federalCapitalGainsTax = capitalGain * federalLongTermRate;
federalTaxDetails = ` Your estimated federal long-term capital gains tax is $${federalCapitalGainsTax.toFixed(2)} (using an assumed ${federalLongTermRate*100}% rate).`;
} else { // Short-term capital gains taxed at ordinary income rates
federalCapitalGainsTax = capitalGain * (federalTaxBracket / 100);
federalTaxDetails = ` Your estimated federal short-term capital gains tax is $${federalCapitalGainsTax.toFixed(2)} (taxed at your ordinary income rate of ${federalTaxBracket}%).`;
}
taxAmountElement.textContent = "$" + nyCapitalGainsTax.toFixed(2);
taxDetailsElement.textContent = `Your capital gain is $${capitalGain.toFixed(2)}. The estimated NY State tax rate is approximately ${nyStateTaxRate*100}%.${federalTaxDetails}`;
}