Introduction. Generally, food and food products sold by food stores are exempt from sales tax.
Sales and use tax rates in New York State reflect a combined statewide rate of 4%, plus the local rate in effect in the jurisdiction (city, county, or school district) where the sale or other transaction or use occurs.
Sales taxes don't apply to all purchases made in New York. For example, New York State exempts certain services like groceries and food from sales tax. New York also charges some additional taxes like a 6% tax on New York City parking and an 8% additional tax on Manhattan parking.
Purchases above $110 are subject to a 4.5% NYC sales tax and a 4% NY State sales tax. The City Sales Tax rate is 4.5%, NY State Sales and use tax is 4% and the Metropolitan Commuter Transportation District surcharge of 0.375% for a total sales and use tax of 8.875 percent.
To determine the total amount of tax due on a sale, multiply the amount of the taxable sale by the combined state and local sales tax rate, and if applicable, the additional Metropolitan Commuter Transportation District (MCTD) tax rate. Round the amount of tax due up or down to the nearest cent.
Form W-4 tells your employer or employer's payroll representative how much federal income tax withholding to keep from each paycheck. You generally complete Internal Revenue Service (IRS) Form W-4, Employee's Withholding Certificate, at the start of any new job.
How to calculate payroll taxes: Key figures to think about Social Security tax formula: Employee Income × 6.2% = Social Security Tax. Medicare tax formula: Employee Income × 1.45% = Medicare Tax. FUTA tax formula: Employee Income × (FUTA Tax Rate – State Credit Reduction) = FUTA Tax.