1. investiture, installation, induction the inauguration of the new Governor. 2. opening, launch, birth, inception, commencement They later attended the inauguration of the University. 3. launch, launching, setting up, institution, initiation the inauguration of monetary union.
New York Income Tax Deductions New York offers a standard deduction ranging from $3,000 for single individuals to $15,000 for married filing jointly. There is also an exemption deduction of $1,000 for each dependent.
John Moore/Getty Images. If you live in New York City, you probably know that your income taxes are high. A combined city and state tax rate of 10.4% kicks in at just $22,000 of taxable income for a single person. You probably don't know that New York City has some of the country's highest taxes on apartment buildingsâand if you're not subject to rent control, much of that cost is flowing through to you as a renter.