A report from the Empire Center for NYS Policy released Monday made the argument for ending the estate tax, a proposal that Cuomo supports, saying that it forces people – especially the elderly – to the flee the state. The report found middle-income New Yorkers are impacted by the tax. Read More
In a new report, a coalition of groups opposing New York's estate tax offered a full-throated argument in favor of Governor Andrew Cuomo's plan to lower its rate and raise its exemption threshold from $1 million to the federal level of over $5.34 million over five years. Read More
Derided as a windfall for the wealthy, a proposal to raise New York's estate tax threshold above $1 million would actually help thousands of homeowners, farmers and small business owners, supporters argued Monday. Read More
Pro-business groups say Gov. Andrew Cuomo's proposed budget would help reduce the high tax bill that can be incurred by dying in New York. Read More
Gov. Cuomo is proposing the most significant reform and reduction of New York’s estate tax in 17 years. This is a big reason why public employee unions and their allied advocacy groups are now claiming that Cuomo’s tax agenda favors “millionaires and billionaires.” Read More
New York is now one of only 14 states still imposing any tax on estates — the cash, land, houses, financial assets and other property left by deceased residents. The state estate tax, also called the "death tax," is triggered once assets exceed $1 million. By contrast, the federal government only taxes estates worth more than $5.34 million, a figure that will rise with inflation every year. Read More
New York is one of only 14 states that still impose an estate tax. The new state budget moves a big step towards repeal—but more needs to be done to avoid chasing away wealth. Read More
As noted by the Empire Center for Public Policy, the median salary for teachers in Western New York was $62,697, compared with $72,990 statewide. Read More