From New York’s standpoint, the best that can be said of last week’s federal tax hike is that it could’ve been worse. Taxes on the wealthy went up, but “wealthy” was defined as an adjusted gross income starting around $500,000 for married couples, instead of at the $250,000 level favored by President Obama. At least 150,000 New York state households, including small business owners, were thus let off the rate-hike hook — for now, at least. Read More
New York State’s personal income tax (PIT) collections in April were a whopping $1.3 billion lower than in the same month last year, according to state Comptroller Thomas DiNapoli’s just-released monthly cash report.* Read More
Average per-pupil spending under proposed 2014-15 school budgets will increase by 3.2 percent, more than one-and-a-half times the 1.9 percent projected inflation rate, according to analysis issued today by the Empire Center for Public Policy. Read More
Kathy Miller and her family moved to New York from Pennsylvania. She said they discovered that just about everything here is more expensive. "Income tax is the biggest," said Miller, of Ballston Lake. "It's double here than it is in Pennsylvania. Property taxes, school taxes, groceries, gas, even our car insurance is more in New York State." Read More
New York City’s 1 percent are paying a much larger share of the city’s income tax than the wealthiest 1 percent nationally are coughing up to Washington, data released Monday reveal. Read More
The conservative Tax Foundation that has hammered New York's business climate and typically ranks it last in the nation had positive marks for the budget deal that includes cuts in corporate taxes. Read More
The Tax Foundation, which ranked New York dead last on its latest annual State Business Tax Climate Index, today issued a highly complimentary analysis of the corporate tax reduction and reforms enacted as part of 2014-15 New York State budget... Read More
New York has earned a poor grade on yet another ranking of state tax climates — this one issued by the Small Business & Entrepreneurship (SBE) Council, a research and advocacy group based in Virginia... Read More