AMT and Equity Compensation
Alternative minimum tax, nonqualified stock options, incentive stock options and other forms of equity compensation.
AMT rates for different states
Posted by: Tax_curious, February 8, 2015 06:25PM
What are the AMT rates for different states?

I know that AMT at the fed level is 26% to 28%.

And in California there is state level AMT of 7%.

What about other states? In particular I live in New York state (Manhattan).

Re: AMT rates for different states
Posted by: Kaye Thomas, February 9, 2015 02:39PM
According to this [www.tax.ny.gov] the rates are 6% for NYS and 2.85% for NYC.

Kaye Thomas
Fairmark.com

Re: AMT rates for different states
Posted by: Tax_curious, February 10, 2015 04:49AM
Thanks for your response - although the link you provided is for a 2013 form.


Looking at this page:
[www.tax.ny.gov]

It states that:
"Additional minimum personal income tax repealed
The New York State and New York City additional minimum personal income taxes have been repealed. Form IT-220, Minimum Income Tax, is obsolete for tax years beginning on or after January 1, 2014."

But I'm not clear if this means AMT for NY is repealed entirely, or if just "additional" minimum tax is repealed.

Does anybody know the answer?



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