Notwithstanding media coverage predicting New York's "latest budget ever," it's worth noting that all of the state's 2010-11 budget appropriations already have been adopted. What's left hanging is a revenue bill encompassing $828 million in additional... Read More
Governor Paterson has dropped a proposal to impose New York State's personal income tax on the interest income of non-resident hedge fund managers from his latest preferred list of revenue-raisers to help pay for the 2010-11 budget appropriations... Read More
Governor David Paterson and the Democratic leaders of the New York State Legislature have agreed to impose $50 million in new taxes on non-resident partners in New York-based hedge funds. Here's how the provision is described in the memo accompanying... Read More
Despite growing signs that Congress is finding it harder to spend with reckless abandon, New York State budget negotiators were counting on getting $1 billion in added Federal Medicaid Reimbursement Percentage (FMAP) aid under the so-called "jobs bill" expected to move... Read More
Albany likes to tax bad things, like cigarettes and, maybe soon, soda. But one State Senator's new idea of a sin tax -- on the defaulted sovereign nation of Argentina -- would harm the state's main cash cow, Wall Street. Argentina defaulted on its... Read More
New York has the second most progressive distribution of federal income taxes among the 50 states, according to a new analysis from the Tax Foundation. From the Tax Foundation's Fiscal Fact: Taxpayers earning more than $200,000 earned 40 percent of... Read More
hile a relatively small number of taxpayers are shouldering the lion's share of the federal, state and city income tax burden, everyone will soon be footing a bigger bill for rising government spending. Nicole explains... Read More
The l in today's New York Times profiles the 10 highest-earning hedge fund managers. A quick Google search indicates that only three of the firms run by these superstars -- Soros Fund Management, Paulson & Co., and Harbinger Capital Pa Read More