As the US Congress contemplates continuing the Bush-era tax cuts, the nonpartisan Tax Foundation notes in a study released this week that New Yorkers would receive the second-largest average benefit if they get renewed. New Yorkers on average would save $5,542 in federal taxes, second only to taxpayers in Connecticut, who would save an average of $5,783.
Mississippi, meanwhile, would save the least per taxpayer – $1,310.
High-income residents saw their marginal rate drop from 39 percent to 35 percent. The capital gains tax-rate dropped from 20 percent to 15 percent.