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wrench978

Active Member
FAA
Messages
88
Facility
ZSU San Juan CERAP
That’s what I meant I guess I typed that wrong, but NY state income tax is about 6.5-7% for a big income. That is high but you would really need to be making close to 200K a year for it to really be $1,000 a month.
oh ok. my only experience with state taxes has been in massachusetts, which was a little lower (5%) but it always seemed like an afterthought. it didn't take too much.
 

BPhresh

Active Member
Messages
42
That’s what I meant I guess I typed that wrong, but NY state income tax is about 6.5-7% for a big income. That is high but you would really need to be making close to 200K a year for it to really be $1,000 a month.
Maybe just considering income tax, but taxes combined are probably over 1k. I'm on D2 pay at ZOB and my taxes combined were $640.72 per month on D1 pay.
 

PushingTin

Forum Sage
Messages
591
Maybe just considering income tax, but taxes combined are probably over 1k. I'm on D2 pay at ZOB and my taxes combined were $640.72 per month on D1 pay.
ZOB = god's country! + 2020 Super bowl champs. Just don't forget that crazy OBERLIN only township tax that they enacted just to milk ZOB for all its worth.




That’s killer for you Bro, but you must be assuming N90 pay, because it takes at least 190K a year to be paying 10K a month more in NY tax vs. a no income tax state. Plus while they are probably better deals overall the zero income tax states find other more creative ways to get money. Yearly taxes for cars or luxury items based on their residual value, mandatory fees for services that are free in most states, insane costs to register a car or for certain permits, etc.....
they do find other ways like "excise" taxes or Meals & Luxury taxes etc. .... but its still LOWER than Cuomo Land. Can you imagine withdrawing a 1 million dollar TSP at retirement in NY vs FL or TX or somewhere more tax friendly? Losing 10's and 10's of thousands of dolla billz! Then again some ppl think paying all that Cheese is "patriotic". Hail to the chief!

 

BAS92

Trusted Contributor
FAA
Messages
246
Facility
ZAU Chicago Center
Sounds like some sep error/controller judgement combos to get scores down that low. Or taking too long to enter a flight plan and that zombie plane kills 4 other ones...
 

32andBelow

Forum Sage
Messages
604
Sounds like some sep error/controller judgement combos to get scores down that low. Or taking too long to enter a flight plan and that zombie plane kills 4 other ones...
Ya but for everyone? It’s not like you don’t know everything that’s on the eval before you take it
 

Stevo62

Member
Messages
19
ZOB = god's country! + 2020 Super bowl champs. Just don't forget that crazy OBERLIN only township tax that they enacted just to milk ZOB for all its worth.






they do find other ways like "excise" taxes or Meals & Luxury taxes etc. .... but its still LOWER than Cuomo Land. Can you imagine withdrawing a 1 million dollar TSP at retirement in NY vs FL or TX or somewhere more tax friendly? Losing 10's and 10's of thousands of dolla billz! Then again some ppl think paying all that Cheese is "patriotic". Hail to the chief!

Can't imagine it since ny doesn't state tax your tsp so to answer your question ny is the same as fla and tx. Oh and they don't tax your pension either go figure....try again
 

Renew3

Member
Messages
13
Can't imagine it since ny doesn't state tax your tsp so to answer your question ny is the same as fla and tx. Oh and they don't tax your pension either go figure....try again
Exactly... You still end up making more money in ZNY and that’s the bottom line.
 

PushingTin

Forum Sage
Messages
591
Can't imagine it since ny doesn't state tax your tsp so to answer your question ny is the same as fla and tx. Oh and they don't tax your pension either go figure....try again
Dont need to try again, i was right the first time. I spoke of withdrawing 1 million dollars. You're splitting hairs. NY only exempts the first 20k of retirement income. So if you retire with $1.2 million in your TSP, you will really save a lot if you do a $20,000 annuity and live to 130! A brilliant way to manage a 401k lol.

Your federal pension is exempted from the state tax, but that is more than nullified by onerous sales taxes, gas taxes, property taxes, tax on taxes on taxes. Anyone who argues NY is a good state to retire in.... Is reaching. It is an empirically provable demonstrably false claim.

Anecdotally click any of those click bait "best place to retire" slide shows, NY is almost always 45-50.
 
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edds93

Active Member
Messages
74
Can confirm. I'm originally from Florida and now I'm in upstate ny and this is basically a communist country up here. Florida has no state income tax, 6% sales tax, and reasonable property and excise taxes and no vehicle inspections. I come up here and I'm paying 8% sales tax, 6% income tax, the highest property taxes relative to property value in the county, a high gas tax, very high cigarette/ alcohol taxes... the list is never ending. On top of that, none of the gas pumps have a locking mechanism so ny expects you to stand outside and hold the handle down in the 0 degree January's to pump gas. I'm not allowed to have tint on my front windows and i have to get a vehicle inspection every year to meet the government standards. It's ok though, the government is just looking out for me and protecting me from myself. I'm happy to pay this extremely high price for the privilege of living in upstate ny and give up my basic liberties in the process. No wonder the population is shrinking up here. The young kids flee and the retirees keep dying off so they'll just have to continue jacking up taxes on a continuously declining tax base until they get fed up and leave too. It's a vicious cycle really
 

Stevo62

Member
Messages
19
Dont need to try again, i was right the first time. I spoke of withdrawing 1 million dollars. You're splitting hairs. NY only exempts the first 20k of retirement income. So if you retire with $1.2 million in your TSP, you will really save a lot if you do a $20,000 annuity and live to 130! A brilliant way to manage a 401k lol.

Your federal pension is exempted from the state tax, but that is more than nullified by onerous sales taxes, gas taxes, property taxes, tax on taxes on taxes. Anyone who argues NY is a good state to retire in.... Is reaching. It is an empirically provable demonstrably false claim.

Anecdotally click any of those click bait "best place to retire" slide shows, NY is almost always 45-50.
I'll say it again there is no state tax on your tsp in ny 0, nada, zilch, absolutely nothing!!! You take out 1 mil you pay fed just like every other state and that's it. If you are in ny and are paying state tax on you tsp get a new acct or stop doing it yourself because you have no clue. So yes try again and don't give misinformation
 

FightingIrish2012

Trusted Contributor
Messages
461
Dude, all the information is that NY is expensive as shit. The Trump tax cuts were awesome but they benefit people in NY and CA the least as you can only deduct 10K in state income and property tax. In NY if you make 100K and have a 200K house that works, but any more then that and you are capped on a big federal deduction. As others said state taxes are high and there are only small benefits for retirees. Allegedly if you have a kid in public school with special ed needs for example the services are said to be some of the best in the country so a lot of money goes to that and other nitch programs, but if your not in the unique position to utilize those you done get much out of those huge taxes.
 

PushingTin

Forum Sage
Messages
591
I'll say it again there is no state tax on your tsp in ny 0, nada, zilch, absolutely nothing!!! You take out 1 mil you pay fed just like every other state and that's it. If you are in ny and are paying state tax on you tsp get a new acct or stop doing it yourself because you have no clue. So yes try again and don't give misinformation
Looks like you are right on NY state tax of TSP (for FERS) and I needed to try again twice. Extremely in the weeds but looks like the definitive ruling on it from 1994. The actual ruling is on page 4.

https://www.tax.ny.gov/pdf/advisory_opinions/income/a94_1i.pdf

That said, NY still one of the absolute worst places to retire if you care about your money!
 

Stevo62

Member
Messages
19
Dude, all the information is that NY is expensive as shit. The Trump tax cuts were awesome but they benefit people in NY and CA the least as you can only deduct 10K in state income and property tax. In NY if you make 100K and have a 200K house that works, but any more then that and you are capped on a big federal deduction. As others said state taxes are high and there are only small benefits for retirees. Allegedly if you have a kid in public school with special ed needs for example the services are said to be some of the best in the country so a lot of money goes to that and other nitch programs, but if your not in the unique position to utilize those you done get much out of those huge taxes.
I totally agree ny is expensive but factor in i am additionally compensated as pushing tin likes to point out ( Atc 12 plus the sweet cip ) I would have to be the first to say We are living quite well and won't be applying for food stamps any time soon. As a trainee it's tough making ends meet but once you certify things change fast. Keep your eye on the prize
 

PushingTin

Forum Sage
Messages
591
Dude, all the information is that NY is expensive as shit. The Trump tax cuts were awesome but they benefit people in NY and CA the least as you can only deduct 10K in state income and property tax.
Yeah. Also CT, NJ, DC, MA, MN, MD etc (in that order) got absolutely hammered by SALT deduction. NY the worst though and its not even close! Tax Hell.

2792
 
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