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    SmilingKena's Avatar
    SmilingKena Posts: 1, Reputation: 1
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    #1

    Mar 11, 2007, 02:09 PM
    401K Early Distribution Tax NYS
    I took an early distribution of $1,500.00 in 2006 from my employer's plan. Federal tax was held, but no New York State Tax. How do I find out if such is due and how to calculate it? Thank you for your time. :)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 12, 2007, 10:38 AM
    You will be taxed at your marginal tax rates for both the federal and state return, plus an additional 10% ($150) will be added to the end of your federal tax return.

    Exactly how much depends on your other income.
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