Discover how income tax works, the different types, and how they're calculated for individuals and businesses. Learn about federal, state, and local taxes.

NOTE: An earlier version of this story overestimated how much workers could save in federal taxes under President Donald Trump’s “big, beautiful bill” and did not apply progressive tax brackets. The ...

New York has the highest tax burden in the US and is the fourth most expensive state to live in. Gov. Kathy Hochul proposed a $3 billion inflation rebate funded by sales tax revenue. A permanent sales ...