Basics of the New York MTA Tax

Residents of New York State face a wide range of local taxes. For instance, New York has a fairly cumbersome tobacco tax, and there’s even a possibility that a new “soda tax” may be implemented in the future. Those who live in the greater New York City metropolitan area, however, are uniquely subject to a tax commonly known as the MTA Tax. The MTA Tax, more formally known as the “Metropolitan Commuter Transportation Mobility Tax” (or MCTMT) depending on their circumstances.  In comparison to other taxes, though, the MTA Tax is actually rather modest – the highest rate currently is only 0.34% – but is a cornerstone of funding for transportation services such as trains, ferries and subways in the greater New York City area.   The MCTMT is imposed on employers and self-employed individuals under the rationale that these employers and self-employed individuals are consuming local…

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