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Posted almost 3 years ago. Applies to New York, 3 helpful votes, 0 comments
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Determining the incomeFigure out the gross income (income earned before income tax and other payroll deductions) of the party that will be paying support. This will include income from ALL sources. The best places to look would be the most recent year-end W-2 wage statement, a recent paystub, 1099 statements and income tax returns. Try and determine, as best you can, the gross income for an entire year. 2
Subtract the mandatory deductionsFrom the gross income, subtract any amounts actually paid for FICA, medicare, local (City) income taxes, and payments of support pursuant to other support orders. There are other deductions that might be permitted by law under very specific circumstances, but these are the most common. These amounts can also be readily determined by looking at a W-2 wage statement or paystub. Again, try and determine the total deductions for a year. After you subtract these deductions, you will be left with a net income for support purposes. 3
Multiply the net income by the applicable percentage.Depending on the number of children to be supported, there is a different percentage to be applied to the net income. For one child, 17%; two children, 25%; three children, 29%; four children, 31%; five or more children, 35%. Multiply the net income by this percentage to determine the child support obligation. If the net income you have is annual income, you will end up with an annual support obligation which can then be divided by 12 to determine the monthly support amount, or by 52 if you want to determined the weekly support amount. Again, please note that this will only provide a very basic ESTIMATE of child support, and will not necessary take into account every fact that the Court may use in determining support. Further, in addition to the child support, the Court can order payments for child care, medical and education expenses. The obligation for these will depend on the facts of the case and a comparison of both parents' incomes. Additional ResourcesFor a more detailed and accurate estimate of a child support obligation in New York, consult with a New York Matrimonial or Family Law attorney. Do not rely solely upon the above method to determine the correct amount of support in your particular matter, as there may be other facts and circumstances which will result in a different calculation. Good luck. Find LLC LawyersRelated Searches |