Updated May 10, 2026
Capital Gains: 4-10.9% (state) + 3.078-3.876% (NYC)Income Tax: 4-10.9% (state) + 3.078-3.876% (NYC)Tax Summary
New York treats cryptocurrency as intangible personal property. Capital gains and crypto income are taxed as ordinary income. State rates range from 4% to 10.9%; NYC adds 3.078% to 3.876%.
Quick facts for New York, United States
Capital Gains Tax
4-10.9% (state) + 3.078-3.876% (NYC)Income Tax Rate
4-10.9% (state) + 3.078-3.876% (NYC)Capital Gains Tax
4-10.9% (state) + 3.078-3.876% (NYC)• Crypto classified as property; gains from sales/exchanges taxed as ordinary income.
• No long-term capital gains preference at state/city level.
• No state-specific exemptions or thresholds for crypto gains.
• Basis is cost; holding period ignored for state rates.
• No long-term capital gains preference at state/city level.
• No state-specific exemptions or thresholds for crypto gains.
• Basis is cost; holding period ignored for state rates.
Income Tax
4-10.9% (state) + 3.078-3.876% (NYC)• Mining income taxed as ordinary income at fair market value when received.
• Staking rewards taxed as ordinary income at FMV upon receipt.
• Follows federal rules for airdrops, forks as income.
• Self-employment tax may apply if business activity.
• Staking rewards taxed as ordinary income at FMV upon receipt.
• Follows federal rules for airdrops, forks as income.
• Self-employment tax may apply if business activity.
Reporting Requirements
• NY residents file Form IT-201; report crypto in federal AGI.
• Use Form IT-203 for nonresidents with NY source income.
• Attach federal Schedule D, Form 8949 if applicable.
• Deadline: April 15; extensions to October 15 available.
• Use Form IT-203 for nonresidents with NY source income.
• Attach federal Schedule D, Form 8949 if applicable.
• Deadline: April 15; extensions to October 15 available.
Special Notes
• NYC residents pay additional city income tax on worldwide income.
• NY follows IRS guidance (Notice 2014-21); latest state memo TSB-M-14(5)I from 2014.
• No sales tax on crypto purchases; exchanges generally nontaxable.
• Aggressive audits on unreported crypto common.
• NY follows IRS guidance (Notice 2014-21); latest state memo TSB-M-14(5)I from 2014.
• No sales tax on crypto purchases; exchanges generally nontaxable.
• Aggressive audits on unreported crypto common.
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: 0-3.7% (50% deduction on long-term gains)Income: 0-3.7%
California
CG: 1%-13.3%Income: 1%-13.3%
Colorado
CG: 4.4% (flat rate)Income: 4.4% (flat rate)
Connecticut
CG: 2-6.99%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%Income: 5.19%
Hawaii
CG: Varies: short-term 1.4-11%, net long-term up to 7.25%Income: 1.4-11%
Idaho
CG: 0-5.3%Income: 0-5.3%
Illinois
CG: 4.95% (flat rate)Income: 4.95% (flat rate)
Indiana
CG: 2.95% state + 0.5%-3% local county (varies)Income: 2.95% state + 0.5%-3% local county (varies)
Iowa
CG: 3.8%Income: 3.8%
Kansas
CG: 5.2%-5.58%Income: 5.2%-5.58%
Kentucky
CG: 3.5%Income: 3.5%
Louisiana
CG: 3%Income: 3%
Maine
CG: 5.8%-9.15% (taxed as ordinary income)Income: 5.8%-9.15%
Maryland
CG: 2%-6.5% state + 2.25%-3.2% local; +2% surtax on net gains if FAGI >$350,000Income: 2%-6.5% state + 2.25%-3.2% local (varies by county)
Massachusetts
CG: 5% (LTCG), 8.5% (STCG) + 4% surtax >$1,083,150Income: 5% + 4% surtax >$1,083,150
Michigan
CG: 4.25%Income: 4.25%
Minnesota
CG: 5.35%-9.85% (+1% NIIT on net investment income > $1M)Income: 5.35%-9.85%
Mississippi
CG: 0% on first $10,000; 4.4% thereafterIncome: 0% on first $10,000; 4.4% thereafter
Missouri
CG: 0%Income: 2%-4.7%
Montana
CG: Long-term: 3.0%-4.1%; Short-term: 4.7%-5.65%Income: 4.7%-5.65%
Nebraska
CG: 2.46%-4.55% (taxed as ordinary income)Income: 2.46%-4.55%
Nevada
CG: 0%Income: 0%
New Hampshire
CG: 0%Income: 0%
New Jersey
CG: 1.4%-10.75% (as ordinary income)Income: 1.4%-10.75%
New Mexico
CG: 1.5% - 5.9%Income: 1.5% - 5.9%
North Carolina
CG: 3.99% (taxed as ordinary income)Income: 3.99%
North Dakota
CG: Short-term: 0%-2.5%; Long-term: effective 0%-1.5% after 40% exclusionIncome: 0%-2.5%
Ohio
CG: 2.75% (flat on income > $26,050)Income: 2.75% (flat on income > $26,050)
Oklahoma
CG: 0%-4.5%Income: 0%-4.5%
Oregon
CG: 4.75%-9.9%Income: 4.75%-9.9%
Pennsylvania
CG: 3.07% (flat rate)Income: 3.07% (flat rate)
Rhode Island
CG: 3.75%-5.99%Income: 3.75%-5.99%
South Carolina
CG: 1.99%-5.21% (44% deduction for net long-term capital gains)Income: 1.99%-5.21%
South Dakota
CG: 0%Income: 0%
Tennessee
CG: 0%Income: 0%
Texas
CG: 0%Income: 0%
Utah
CG: 4.5%Income: 4.5%
Vermont
CG: 3.35%-8.75%Income: 3.35%-8.75%
Virginia
CG: 2-5.75%Income: 2-5.75%
Washington
CG: 7% on long-term gains exceeding $278,000 (2025 threshold, inflation-adjusted)Income: 0% (no state income tax)
West Virginia
CG: 2.11% - 4.58% (taxed as ordinary income)Income: 2.11% - 4.58%
Wisconsin
CG: 3.5%-7.65% (30% subtraction for long-term)Income: 3.5%-7.65%
Wyoming
CG: 0%Income: 0%
New York Crypto Tax FAQ
Is cryptocurrency taxed in New York?
New York treats cryptocurrency as intangible personal property. Capital gains and crypto income are taxed as ordinary income. State rates range from 4% to 10.9%; NYC adds 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) + 3.078-3.876% (NYC).
How do I report crypto taxes in New York?
• NY residents file Form IT-201; report crypto in federal AGI.
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.