Issues: Income Tax

February 24, 2012
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IMPORTANT INFORMATION FOR THE 2012 PERSONAL INCOME TAX FILING SEASON

Below find information regarding some new developments at the Department of Taxation and Finance for the 2012 personal income tax filing season.  The new initiatives reflect statutory changes enacted in 2011 as well as Governor Cuomo’s mandate that State agencies deliver services more effectively and at lower cost to taxpayers.

 

February 21, 2012
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2011 Tax Returns

 

 

* * * CONTACT INFO FOR 2011 TAX RETURNS * * *

 

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(1) AARP:

 

       Free tax service for seniors

        Call for 723-2292 for appointments after 01/09/12

                @ Greece Community Center

        Tax preparation beginning 02/01/12

January 5, 2012
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Senator Martins: New Year Brings Lower State Income Tax Rates

Senator Jack M. Martins is reminding residents that lower state income tax rates take effect on January 1st.

"This was an important step in providing some relief to our taxpayers," Senator Martins said. “Enacting the new tax code was a fitting way to end a  very productive 2011 during which we closed a $10 billion budget deficit without raising taxes, cut government spending, approved new job creation and economic development measures, and enacted a property tax cap. We must continue to build upon these achievements in the coming year.”

January 3, 2012
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COUNTDOWN TO LOWER TAXES FOR NEW YORKERS

As a result of historic tax reform legislation that State Senator Mike Nozzolio worked with his Senate colleagues and Governor Cuomo to adopt, the lowest tax rate most New Yorkers have seen in more than 50 years will go into effect in a matter of days.

December 29, 2011
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SENATOR FUSCHILLO: NEW YEAR BRINGS LOWER STATE INCOME TAX RATES

            Senator Charles J. Fuschillo, Jr. (R-Merrick) is reminding residents that lower state income tax rates take effect on January 1st.

December 29, 2011
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The Middle Class Tax Cut and Job Creation Plan

After Albany approved a sweeping tax reform and job growth plan designed to provide income tax reductions to 4.4 million New Yorkers and thousands of small businesses, Western New York State Senator Patrick M. Gallivan (R,C,I – 59th Senate District) announced an additional proposal to implement a strict cap on all income tax revenues collected under the state’s brand new income tax bracket structure.

December 21, 2011
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Delvering For Our Taxpayers: Tax Cuts, Tax Cap Go Into Effect January 1

Middle class tax cuts that will reduce tax rates for millions of hardworking taxpayers and the two-percent property tax cap highlight new state laws that will go into effect on January 1, 2012.

The recently enacted tax cuts will reduce tax rates on middle class taxpayers to their lowest levels in more than 50 years (Chapter 55, L.2011). About 4.4 million middle class taxpayers will receive a total of  $690 million in personal income tax relief.

A tax relief measure for manufacturers that will help them expand and create new jobs will also take effect next year, beginning January 1, 2012, as will provisions for flood relief and recovery, and the implementation of inflation adjustments to reduce personal income taxes.

December 19, 2011
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TAX CUTS AND PROPERTY TAX CAP HIGHLIGHT NEW JANUARY 1ST LAWS

Middle class tax cuts that will reduce tax rates for millions of hardworking taxpayers and the two-percent property tax cap highlight new state laws that will go into effect on January 1, 2012.

The recently enacted tax cuts will reduce tax rates on middle class taxpayers to their lowest levels in more than 50 years (Chapter 55, L.2011). About 4.4 million middle class taxpayers will receive a total of $690 million in personal income tax relief.

December 16, 2011
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Albany Tax Deal: A Start, But Far From Done

Our Town, December 15, 2011

By Liz Krueger

In another whirlwind session in Albany, Gov. Andrew Cuomo pushed through a new tax plan that will generate $1.5 billion in much needed additional revenue for the state. I supported the plan because that revenue will make it easier to balance the budget without devastating cuts to education, health care and social services, and because it creates a more progressive tax structure than we would have if we did nothing. But there is also plenty to be critical of, both in terms of the minimal progressive reform to our tax structure and the record-breaking 26 minutes the Legislature and public had to review the contents of the package.

December 16, 2011
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Gianaris Says GOP Is Taking Page from Mitt Romney Playbook

Politicker wrote about the passage of major Democratic priorities during the special legislative session.

he buzz around Albany yesterday was that Gov. Andrew Cuomo did the Senate Republicans a huge favor by taking the millionaire’s tax off the table in his tax overhaul plan. The thinking was that without that wedge issue to run against, Democrats have been denied a key talking point going into the 2012 elections.

On Fred Dicker’s radio show today, Queens Sen. Michael Gianaris, who is in charge of the Democratic effort, said Republicans should be praised for adopting the Democratic agenda.

December 12, 2011
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Sen. Gianaris on Democratic Support of Tax Code Deal

Senator Gianaris was on YNN"s Capital Tonight with Liz Benjamin to discuss the passage of the restructured tax code - a major priority for the Senate Democrats.

Watch the video here.

December 12, 2011
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Historic Middle Class Tax Cut and Job Creation Plan Signed Into Law

Governor Andrew Cuomo signed the Middle Class Tax Cut and Job Creation Plan at the Cornwell Avenue School in West Hempstead, The bill, that as passed by the New York Senate last week, reduces the state tax burden for millions of New Yorkers to their lowest levels in more than fifty years. The far-ranging plan also strengthens our economy and creates jobs by eliminating the MTA payroll tax for more than 78 percent of employers that currently pay it, provides funds for state infrastructure projects and tax credits for youth employment. The plan provides a total $3.3 billion in tax relief to individuals and businesses.

December 12, 2011
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From the Desk of Senator Martins

Tax Cuts For the Middle Class

I couldn’t wait to sit down and pen this column, and to be frank, I wasn’t sure the day would ever come. The subject is a tax cut for the middle class, an issue discussed relentlessly by politicians, but one that has proven to be a rare and elusive animal in the world of real policy. Now, after over fifty years of increased New York State income taxes, it became a reality this past week in Albany.

December 12, 2011
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MIDDLE CLASS TAX CUT AND JOB CREATION PLAN

Fact Sheet: Changes to tax rates for each tax bracket

 

The Middle Class Tax Cut and Job Creation Plan:

• Decreases the tax rate from 6.85 percent to 6.45 percent on the following incomes:o Married – Incomes between $40,000 and $150,000o Single – Incomes between $20,000 and $75,000o Head of Household – Between $30,000 and $100,000

• Decreases the tax rate from 6.85 percent to 6.65 percent on the following incomes:o Married – Incomes between $150,000 and $300,000o Single – Incomes between $75,000 and $200,000o Head of Household – Incomes between $100,000 and $250,000

December 9, 2011
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Gallivan Announces Legislation To Cap Income Taxes, Refund Excess Funds Back To Taxpayers

BILL SEEKS TO CONTROL SPENDING AS COMPANION PIECE TO NEW TAX AGREEMENT

December 9, 2011
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State Senate passes $3.3 billion tax cut for New Yorkers

No taxpayers will see their personal income taxes go up
Overwhelming majority of taxpayers to receive a tax break
91% of taxpayers affected by the PIT surcharge to receive tax cut

 

To figure out your reduced tax rate as a result of the Middle Class Tax Cut and Job Creation Plan, click here.

December 9, 2011
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Behind Rapid Deal on Taxes, Stealth Maneuvering by Cuomo

By THOMAS KAPLAN

ALBANY — Gov. Andrew M. Cuomo first notified the public that he wanted to revise New York’s income tax Sunday afternoon, with e-mail sent to the state’s newspapers, offering them an essay in which he mentioned “comprehensive reform of our tax code.”

Just two days later, the governor announced that he and legislative leaders had agreed on an overhaul of the income tax; that day, he summoned lawmakers back to Albany, and the next day, Wednesday, he invited them to a party before they had seen the measure or voted on it.

December 8, 2011
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Senator Martins on the Senate Floor About the Middle Class Tax Cut and Job Creation Plan

Senator Jack M. Martins speaks about supporting a bill to cut taxes for middl-class taxpayers on the floor of the Senate on December 7, 2011.

December 8, 2011
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