NY TAXES

613183

{"text":"Hi fellow truckers, I have a friend that says New York taxes for o/o are 60%. Is this true? Why does NY have such high taxes for everything. Any idea guys what can he do like put his residence in another state or something else?","pics":"[]","canComment":true}

613076

{"replyTo":"","text":"This is just untrue. The small business tax rate in New York is 7.1%. If you're a sole proprietorship your federal tax rate is 13.3% and if you're an LLC or S Corp your federal tax rate is as much as 26%. So the most you could pay is 32% combined state and federal tax. Remember that's just on profits after all business deductions of which there are many.","replyToPid":0}

613183

{"replyTo":"","text":"I see. Thanks for the information.","replyToPid":0}

614962

{"replyTo":"","text":"Have him come here to ask.","replyToPid":0}

613183

{"replyTo":"","text":"He is here. Just want to know what others have to say about this issue.","replyToPid":0}