Getting Rid Of NY State's Income Tax?
During Governor Andrew Cuomo's State of the State address, he proposed a new way to restructure the state's tax code. His idea is to eliminate the state's income tax system and adopt a statewide payroll tax system.
This idea is in response to the new tax law signed by President Trump that caps state and local tax deductions at $10,000.
With this idea, employers would pay taxes back to the state with a payroll tax instead of a state income tax being taken from the employees.
"It's a sort of convoluted way of collecting the same money for the state, but having it come from a different source," said Marcy Robinson-Dembs, attorney. i
Read the full article here.
- Expect Delays in Issuance of Employment Authorization Documents
- NYS Energy Storage Roadmap Technical Conferences Announced
- Informed Intermediary Doctrine Not Applicable to Industrial Employer and Its Employees
- New York Enacts Sweeping Sexual Harassment Legislation Part Two: Sexual Harassment Certification Requirements and NYS Contract Bidding