Just in time for tax season, New York State's tax agency just lost a major legal challenge to its policy of pursuing maximum income tax payments from wealthy vacation homeowners—even when they live elsewhere. Read More
Tag: new jersey
Average daily office occupancy in New York City has bounced back from 2020-21 lows, but by most accounts remains well below pre-pandemic norms. Read More
A record high number of federal income tax filers and their dependents moved from New York to other states from 2019 to 2020, and the average incomes of Empire State out-migrants topped $100,000 for the first time, according to newly released (IRS). 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