New York is a state in the North-eastern region of the United States. The economy of New York state includes agriculture, printing and publishing, scientific instruments, electric equipment, machinery, chemical products, and tourism. New York exports a wide variety of goods such as foodstuffs, commodities, minerals, computers and electronics, cut diamonds, and automobile parts. The United States of America (USA) is in North America, bordering both the North Atlantic Ocean and the North Pacific Ocean, between Canada and Mexico. The climate is mostly temperate, but tropical in Hawaii and Florida, arctic in Alaska, semi arid in the great plains west of the Mississippi River, and arid in the Great Basin of the southwest. The official language is English. It is predominant in business circles throughout the US. The US has highly cosmopolitan immigrant communities, particularly in cities who speak many other languages. Spanish is widely spoken in districts of most cities, as well as areas near the Mexican border. The main religion is Christianity. The economy of the United States is a capitalist mixed economy, fuelled by abundant natural resources, a well-developed infrastructure, and high productivity. The U.S. economy is the largest national economy in the world, with an estimated gross domestic product (GDP) equal to a quarter of nominal global GDP and a fifth of global GDP at purchasing power parity. Expatriate business dress is generally formal, comprising jacket and tie for men and suits for women, although this may differ by industry and state. The security risk for expatriates in the United States is low overall, but medium in low-income, inner-city areas. Risks include terrorism, opportunistic street crime (such as pickpocketing, bag-snatching, mugging and vehicle theft), and violent crime in low-income, inner-city areas. Other risks include hurricanes, forest fires, and snowstorms. The currency of United States is the US Dollar (USD). Banking is on a par with the rest of Western Europe and North America. Medical facilities are good, however the cost of treatment for expatriates can be high. Some hospitals may ask non-US residents to pay a deposit or ‘good faith’ payment on admittance. The population of New York State is 8.2 Million (2018 est.), while the inflation rate (CPI) is 2.2% for the United States as at November 2018. Xpatulator Hypothetical Tax for the USA is based on the current personal income tax rates using the Single Federal income tax 2018 marginal rates for individuals which are progressive up to 37%. In addition there are State and Local Taxes which vary across the USA. For Xpatulator Hypothetical Tax purposes we have used a combined average of State and Local Taxes of 6.5%. The combined maximum progressive Xpatulator Hypothetical Tax rate is therefore 43.5% based on Federal (37%) + State and Local Taxes (6.5%).
Cost Of Living
The cost of living for expatriates / professional migrants in In New York State, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): New York State as at 1 January 2019 is high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: Average 3) Communication: Average 4) Education: Very High 5) Furniture & Appliances: Average 6) Groceries: High 7) Healthcare: Very High 8) Household Accommodation: High 9) Miscellaneous: Average 10) Personal Care: Very High 11) Recreation & Culture: Average 12) Restaurants Meals Out and Hotels: High 13) Transport: High New York State is for example 30.4% more expensive than Houston TX for groceries, 55.5% more expensive for household costs than Kuala Lumpur, and 62.5% more expensive for transport costs than Dubai. The hardship premium for New York State for an expat from Perth, is for example 0%, i.e. host location (New York State) premium of 10% minus home (Perth) location premium of 10%. New York State is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in New York State? Register subscribe to your home location and New York State and run your personalised reports.