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
In its look-back today on Governor Andrew Cuomo’s second legislative session, The New York Times quotes the governor as saying he had “front-loaded” the legislative calendar... Read More
“The first casualty of war is always the truth,” Winston Churchill observed. The same might be said of political battles. Around New York in this campaign season, incumbent state legislators in both parties have been bending facts into pretzels when they discuss their recent records on state taxes, in particular. Read More