Recently started working remotely for a consulting firm in NY, currently living in TX. Single with no dependents, haven’t setup 401k or other contributions yet - my first paycheck was taxed at 38%. Because of my residence in TX, no NYC city tax was withheld (correctly). At 125k, 38% seems absurd! I checked multiple online calculators and even manually checked what my contributions should be against the tax tables - I should be closer to 30%. Does this check out? I hope it’s a clerical mistake

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Did you file your forms correctly? As a single person you should have at least one deduction for yourself

Thanks!

Anyone also working in NYC that can provide some additional insight?

Federal and state are both withholding too much, no city yet since I’m not a resident

Maybe change your withholding via your company’s HR. If not, you could have a big refund

Yup, checking the forms now. Do you work in NYC? What’s your effective tax rate?

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