New York State’s relative economic performance wasn’t so hot in the recent past — but its outlook for the future is worse, according to the just-released 7th Annual Rich States, Poor States report, an economic competitiveness index produced by the American Legislative Exchange Council (ALEC). Read More
By midnight on April 15, more than 8.5 million personal income tax returns for 2013 will have been filed with the New York State Department of Taxation and Finance. Roughly one-third of those filers will owe nothing, and big chunk of total PIT receipts will come from a tiny fraction of high-income taxpayers. Read More
EJ McMahon, with the fiscally conservative think tank The Empire Center calls the levy the “death tax”. He says it’s about time New York got in synch with the rest of the country, where many states have already eliminated the tax altogether. “Our death tax is an outlier,” McMahon said. Read More
President Barack Obama’s proposed federal budget revives his proposal to cap the value of itemized income tax deductions for the highest-earning 3 percent of taxpayers, a category starting at $200,000 of taxable income for single filers and $250,000 for married filers. Read More
New York ranks 50th — meaning “worst” — in the Tax Foundation’s 2013 State Business Tax Index, released today. The Empire State’s ranking tumbled back to last place after climbing all the way up to number 48 in the 2011 Index. Read More
The combined state and local tax burden on New York residents in 2010, the year before Governor Andrew Cuomo took office, reached its highest level since 1994, the last year his father held the same office, as measured by data released today by the Tax Foundation... Read More
Governor Cuomo and the Legislature are about to add another gnarly twist to the state’s heavily cluttered personal income tax code with their agreement to create a new “Family Tax Credit.” Read More
New York’s combined state and local sales tax rate is the seventh highest in the nation, according to a new report from the Tax Foundation. Read More