Cuomo proposal would raise top tax rate for New York City to 14.7%, highest combined rate in nation

Personal finance

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The state would raise the top tax rate to 10.86%, up from 8.82%, Cuomo said. That would yield a top rate of 14.7% for the wealthiest New York City residents in combined taxes.

“[It] would be the highest income tax in the nation,” Cuomo said.

This is a developing story. Please check back for updates.

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