Pro-business groups say Gov. Andrew Cuomo's proposed budget would help reduce the high tax bill that can be incurred by dying in New York. Read More
Tag: Migration
Gov. Cuomo is proposing the most significant reform and reduction of New York’s estate tax in 17 years. This is a big reason why public employee unions and their allied advocacy groups are now claiming that Cuomo’s tax agenda favors “millionaires and billionaires.” Read More
New York is now one of only 14 states still imposing any tax on estates — the cash, land, houses, financial assets and other property left by deceased residents. The state estate tax, also called the "death tax," is triggered once assets exceed $1 million. By contrast, the federal government only taxes estates worth more than $5.34 million, a figure that will rise with inflation every year. Read More
New York is one of only 14 states that still impose an estate tax. The new state budget moves a big step towards repeal—but more needs to be done to avoid chasing away wealth. Read More
These boots were made for walking, as the song goes. Unfortunately for New York, they’re walking right out of the state, with the latest Census figures showing Florida about to overtake us as the nation’s third-most-populous state. Read More
According to Albany think tank The Empire Center for Public Policy, recent U.S. Census data shows New York as highest in domestic migration loss since 2010. Illinois, California and New Jersey follow with significant losses in residents compared to the rest of the country. On the contrary, states like Texas and Florida gained the most in domestic migration during that time. Read More
Americans aren’t in a New York state of mind. New York ranks 50th in domestic migration, with 328,538 more people leaving the state than moving in from other states from 2010 through 2013, according to an analysis of new census data by the Empire Center. Read More
The number of people in New York who earn $1 million or more in taxable income annually jumped 8.5 percent between 2010 and 2011, the last year for which figures were available. Read More