Use this form to figure out costs for the NY Health Act*
Instructions:
Simply click into the yellow dollar amount cell and change it to whatever annual taxable income** figure you want to use.
The green cells will change to reflect the new amount and tax rates.
That’s all there is to it!
NOTE: Everyone gets an exemption on their first $25K of income; seniors get an exemption on the first $50K.
* Per the Health Act, "A specific revenue plan, following guidelines in the bill, would be submitted to the Legislature by the Governor." The calculator is based on one proposal.
** The Health Act covers each of us individually, regardless of income or anything else. So the “taxable income” figure above is for an individual, not a family. If you have more than one wage earner, calculate each separately. If you are self-employed, your annual taxable income is your modified adjusted gross income, not your gross income.