Updated March 29, 2026
Capital Gains: 4%-10.9% (state ordinary income rates); +3.078%-3.876% NYCIncome Tax: 4%-10.9% (state ordinary income rates); +3.078%-3.876% NYCTax Summary
New York treats cryptocurrency as property for tax purposes. Capital gains and income from crypto activities are taxed as ordinary income at state rates ranging from 4% to 10.9%. New York City residents face additional city income taxes from 3.078% to 3.876%.
Quick facts for New York, United States
Capital Gains Tax
4%-10.9% (state ordinary income rates); +3.078%-3.876% NYCIncome Tax Rate
4%-10.9% (state ordinary income rates); +3.078%-3.876% NYCCapital Gains Tax
4%-10.9% (state ordinary income rates); +3.078%-3.876% NYC• Crypto capital gains are classified as property dispositions, following federal rules.
• Taxed at ordinary state income tax rates with no distinction for short-term or long-term gains.
• No crypto-specific exemptions or thresholds in New York.
• NYC residents pay additional city tax on gains.
• Taxed at ordinary state income tax rates with no distinction for short-term or long-term gains.
• No crypto-specific exemptions or thresholds in New York.
• NYC residents pay additional city tax on gains.
Income Tax
4%-10.9% (state ordinary income rates); +3.078%-3.876% NYC• Mining income is taxed as ordinary income at fair market value (FMV) when received.
• Staking rewards and airdrops taxed as ordinary income at FMV on receipt.
• Self-employment tax may apply to miners (federal, flows through).
• Taxed at same state income rates; NYC additional for residents.
• Staking rewards and airdrops taxed as ordinary income at FMV on receipt.
• Self-employment tax may apply to miners (federal, flows through).
• Taxed at same state income rates; NYC additional for residents.
Reporting Requirements
• Report all crypto income and gains on federal returns (e.g., Form 8949, Schedule D); included in NY adjusted gross income.
• New York residents file Form IT-201 (includes NYC tax if applicable).
• Deadline: April 15 (extensions available).
• Maintain records of dates, FMV, cost basis.
• New York residents file Form IT-201 (includes NYC tax if applicable).
• Deadline: April 15 (extensions available).
• Maintain records of dates, FMV, cost basis.
Special Notes
• No preferential long-term capital gains rates at state level.
• Sales tax applies to taxable purchases paid with crypto at FMV.
• No state-specific crypto guidance; follows federal property treatment.
• Proposed digital asset transaction tax (A8966) and mining tax not enacted as of 2026.
• Sales tax applies to taxable purchases paid with crypto at FMV.
• No state-specific crypto guidance; follows federal property treatment.
• Proposed digital asset transaction tax (A8966) and mining tax not enacted as of 2026.
Other US States
Compare state-level crypto tax differences across the United States.
Alabama
CG: 2%-5%Income: 2%-5%
Alaska
CG: 0%Income: 0%
Arizona
CG: 2.5%Income: 2.5%
Arkansas
CG: 0% - 3.9%Income: 0% - 3.9%
California
CG: 1%-13.3% (ordinary income rates)Income: 1%-13.3% (ordinary income rates)
Colorado
CG: 4.4%Income: 4.4%
Connecticut
CG: 2%-6.99% (taxed as ordinary income)Income: 2%-6.99%
Delaware
CG: 2.2%-6.6%Income: 2.2%-6.6%
District of Columbia
CG: 4-10.75% (taxed as ordinary income)Income: 4-10.75%
Florida
CG: 0%Income: 0%
Georgia
CG: 5.19% (taxed as ordinary income)Income: 5.19% (flat rate)
Hawaii
CG: 7.25% (elective on net capital gains); short-term: 1.4%-11%Income: 1.4%-11%
Idaho
CG: 0% up to $4,811 (single) / $9,622 (married); 5.3% thereafterIncome: 0% up to $4,811 (single) / $9,622 (married); 5.3% thereafter
Illinois
CG: 4.95%Income: 4.95%
Indiana
CG: 2.95% state + 0.5%-3% county (varies by location)<argumentIncome: 2.95% state + 0.5%-3% county (varies by location)<argument
Iowa
CG: 3.8% (flat rate, taxed as ordinary income)Income: 3.8% (flat rate)
Kansas
CG: 5.2% - 5.58%Income: 5.2% - 5.58%
Kentucky
CG: 3.5% (flat rate)Income: 3.5% (flat rate)
Louisiana
CG: 3%Income: 3%
Maine
CG: 5.8%-7.15%Income: 5.8%-7.15%
Maryland
CG: 2%-6.5% state + 2.25%-3.3% local + 2% surtax on net gains (FAGI > $350k)<grok:render type="render_inlIncome: 2%-6.5% state + 2.25%-3.3% local
Massachusetts
CG: 5% (long-term), 8.5% (short-term)Income: 5% flat + 4% surtax over $1,083,150
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35%-9.85%; +1% on net investment income over $1MIncome: 5.35%-9.85%
Mississippi
CG: 4.4%Income: 4.4%
Missouri
CG: 0%Income: 0-4.7%
Montana
CG: Short-term: 4.7%-5.65%; Long-term: 3%-4.1%Income: 4.7%-5.65%
Nebraska
CG: 2.46%-5.20% (tax year 2025); top rate 4.55% (2026)Income: 2.46%-5.20% (tax year 2025); top rate 4.55% (2026)
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4%-10.75% (taxed as ordinary income)Income: 1.4%-10.75%
New Mexico
CG: 1.5% - 5.9% (with deduction)Income: 1.5% - 5.9%
North Carolina
CG: 4.25% (TY 2025); 3.99% (TY 2026)Income: 4.25% (TY 2025); 3.99% (TY 2026)
North Dakota
CG: Short-term: 1.95%-2.5%; Long-term: effective 1.17%-1.5% (after 40% exclusion)Income: 1.95%-2.5%
Ohio
CG: 0%-3.125%Income: 0%-3.125%
Oklahoma
CG: 0.25% - 4.5%Income: 0.25% - 4.5%
Oregon
CG: 4.75%-9.9% (taxed as ordinary income)Income: 4.75%-9.9%
Pennsylvania
CG: 3.07%Income: 3.07%
Rhode Island
CG: 3.75%-5.99%Income: 3.75%-5.99%
South Carolina
CG: 0%-6% (44% deduction on net LTCG)Income: 0%-6%
South Dakota
CG: 0%Income: 0%
Tennessee
CG: 0%Income: 0%
Texas
CG: 0%Income: 0%
Utah
CG: 4.5% (flat, as ordinary income)Income: 4.5% (flat rate)
Vermont
CG: 3.35%-8.75% (taxed as ordinary income)Income: 3.35%-8.75%
Virginia
CG: 2%-5.75%Income: 2%-5.75%
Washington
CG: 7%Income: 0%
West Virginia
CG: 2.22%-4.82%Income: 2.22%-4.82%
Wisconsin
CG: 3.50%-7.65% (30% deduction for long-term gains)Income: 3.50%-7.65%
Wyoming
CG: 0%Income: 0%
New York Crypto Tax FAQ
Is cryptocurrency taxed in New York?
New York treats cryptocurrency as property for tax purposes. Capital gains and income from crypto activities are taxed as ordinary income at state rates ranging from 4% to 10.9%. New York City residents face additional city income taxes from 3.078% to 3.876%.
What is the crypto capital gains tax rate in New York?
The state-level capital gains treatment in New York is currently listed as 4%-10.9% (state ordinary income rates); +3.078%-3.876% NYC.
How do I report crypto taxes in New York?
• Report all crypto income and gains on federal returns (e.g., Form 8949, Schedule D); included in NY adjusted gross income.
Compare With Other Countries
Disclaimer: This information is AI-generated and for educational purposes only. Tax laws are complex and subject to change. Always consult with a qualified tax professional for advice specific to your situation.