The State of the State is the prelude to Hochul’s state budget reveal. It’s a budget that represents a generational opportunity. Read More
Tag: Income tax
New York's share of the nation's income millionaire households continued to fall in 2019 Read More
A bill passed this morning in the U.S. House of Representatives would lift the cap on state and local income tax (SALT) deductions from $10,000 to $80,000. Read More
This paper describes seven core objectives and offers specific policy recommendations toward their accomplishment. It’s by no means an exhaustive list, rather a good place to start work towards an Altered State with a growing economy, a more efficient public sector and new opportunities for an engaged and informed citizenry. Read More
Tax proposals embraced by Democrats represent a sizable increase in a top rate that already stands at an all-time record high. Read More
Just a year after the Empire State was clobbered by the coronavirus, New York’s Legislature confronts an embarrassment of revenue riches. Read More
The U.S. Supreme Court today kept alive federal litigation that could cost New York a big chunk of the billions of dollars in taxes it collects from nonresidents working for New York-based employers. Read More
The Empire State has long asserted the right to tax nonresidents commuting to work in New York—even when their work is done at home. The payoff for Albany is huge: as of 2018, newly released state data show, nonresidents generated $7.4 billion in New York State personal income taxes, 15 percent of the total. Most of that came from people who were regular commuters before COVID-19 hit. Read More