Issues: Income Tax

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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Senator Dilan Announces Deal Reached on Taxes, Flood Victim Relief, Infrastructure Development and Youth Employment

Comprehensive legislation designed to spur New York’s economy and invest in the future passes Senate and Assembly

Albany—State Senator Martin Malavé Dilan (D-Brooklyn) announced that the Senate and Assembly has passed legislation that will help kick start a sluggish economy by providing modest tax relief to the middle class along with financial assistance to victims of Hurricane Irene and Tropical Storm Lee.

December 8, 2011
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Senator Martins Announces Historic $3.3 Billion Middle Class Tax Cut and Job Creation Plan

Extensive Bill Signed by Senate, Assembly and Governor Will Amend Tax Code, Cut MTA Payroll Tax

Along with Governor Cuomo and the Assembly, the New York Senate today passed an historic Middle Class Tax Cut and Job Creation Plan that 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 8, 2011
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Cuomo Considers Changing N.Y. Tax Code as Economy Struggles

Nov. 30 (Bloomberg) -- Governor Andrew Cuomo is considering restructuring New York's tax code as he prepares a budget that must close a deficit as large as $3.5 billion after a temporary surcharge on those earning at least $200,000 expires Dec. 31.

Cuomo has said he opposes the state's so-called millionaire's tax. With the levy set to expire at year's end, he's now discussing a broader rethinking.

"What I'm looking at is what do you do with the tax code and how you use the tax code to stimulate jobs," the 53-year- old first-term Democrat said on WGDJ in Albany today.

December 8, 2011
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Senate Passes $3.3 Billion Tax Cut and Job Creation Plan

Posted by Majority Press on Wednesday, December 7th, 2011   

December 8, 2011
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Oppenheimer Endorses Governor's Job Creation Package Bringing MTA Payroll Tax Relief and Greater State Role in Flood Mitigation

State Senator Suzi Oppenheimer (D-Mamaroneck) today applauded Governor Cuomo’s comprehensive Job Creation package, which includes significant reductions in the MTA Payroll Tax and state flood relief assistance for individuals, small businesses, and local governments hard hit by recent flood disasters.

Senator Oppenheimer stated, “The MTA Payroll Tax needs to be eliminated for suburban counties. The $250 million cut in the payroll tax, which is targeted to small businesses, self-employed individuals and private and parochial schools, will be of special benefit to Westchester.”

December 8, 2011
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Senate, Assembly, Governor agree on tax relief plan to spur economic growth

STATEMENT BY SENATOR BETTY LITTLE

     "The goal of this agreement approved tonight by the Legislature is to encourage economic activity and job growth. There are a lot of national and international economic factors beyond our control. We need to do what we can on the state level and the time to act is now, not putting off action until next year’s session or within the context of negotiating a state budget.

     "Cutting income taxes for the vast majority of New Yorkers, new incentives for businesses, accelerating infrastructure projects, providing aid for storm-ravaged communities: all of this is being done to move our economy forward rather than wait and see or simply hope the situation improves.

December 8, 2011
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SENATE PASSES $3.3 BILLION TAX CUT & JOB CREATION PLAN

Bill Cuts Taxes for 4.4 Million New Yorkers; Repeals MTA Payroll Tax for Most Businesses;

Reduces Taxes on Manufacturers; Invests in Job Creation & Retention

 

December 8, 2011
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SENATOR SKELOS ANNOUNCES PASSAGE OF $3.3 BILLION TAX CUT AND JOB CREATION PLAN

The New York State Senate today passed the Middle Class Tax Cut and Job Creation Plan that will reduce taxes for millions of hardworking, middle-class taxpayers to their lowest levels in more than half a century.  In addition, the comprehensive plan will help strengthen our economy and create new jobs by eliminating the job-killing MTA payroll tax for more than 78 percent of the small employers that pay the tax.  The plan will provide a total of more than $3.3 billion in tax relief to individuals and businesses.

December 7, 2011
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Special Session Produces Tax Cuts, Job Creation Incentives, Flood Relief

ALBANY, 12/07/11 – State Senator James L. Seward (R/C/I – Oneonta) today applauded the Middle Class Tax Cut and Job Creation Plan which helps rejuvenate the upstate economy and includes special state funding to assist flood devastated communities.

“This plan means lower taxes - $690 million worth – for hard-working, middle class New Yorkers, the backbone of our communities. That’s money that will now flow through our local economy and create jobs. At the same time, we are cutting taxes for manufacturers helping them create additional jobs and continue to drive our economy forward,” Seward said.

December 7, 2011
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Statement on personal income tax cuts

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

 

State Senator Michael H. Ranzenhofer has issued the following statement:

“Today, for the first time in the three years since being elected to the State Senate, the State Legislature passed a bill which actually cuts taxes – instead of resorting to increasing taxes by billions of dollars as in prior State budgets.  

December 7, 2011
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December 2, 2011
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Super Committee Fails – Now is Not the Time to Cut Taxes for Millionaires

New York could lose billions as a result of automatic cuts

State Senator Martin Malavé Dilan (D-Bushwick) expressed his disappointment that the Federal Committee appointed to strike a deficit reduction deal has announced its failure.  The committee’s failure to reach an agreement sets in motion an automatic plan to cut $1.2 trillion in federal spending beginning in 2013.

November 22, 2011
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Jobs Express Website

News From New York StateSenator Shirley L. HuntleyFor Immediate Release: November 4, 2011Contact: Antonio Rodriguez | arodrigu@nysenate.gov | (518) 455-3531

*PRESS RELEASE*

Senator Shirley L. Huntley Announces Launch of “Jobs Express” Website to Assist Unemployed New Yorkers Find Work

November 4, 2011
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LaValle Co Sponsors Legislation To Repeal The MTA Payroll Tax

Hauppauge, NY- Senator Lee M. Zeldin (R, C, I- Shirley) and Senator Jack Martins (R-Mineola) announced today the introduction of legislation to repeal the job killing MTA Payroll Tax.  This announcement came on the heels of months of studying, listening and learning about the MTA and its financial situation.  Also joining them at today's announcement in Hauppauge was Senate co-sponsor Kenneth P. LaValle (R, C, I- Port Jefferson).

June 6, 2011
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Statement by Senate Majority Leader Dean Skelos on PIT Surcharge

The personal income tax surcharge is dead.  It died at the end of March, when the Legislature approved a new state budget that did not extend it; a position supported by Senate Republicans and by Governor Cuomo. I know I speak for my conference, for our constituents and for millions of taxpayers in this state who believe that cutting taxes to help businesses create jobs and help families make ends meet is the real moral imperative. Senate Republicans will not support any renewed efforts by the Assembly Democrats to extend the PIT surcharge. 

May 18, 2011
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Taxpayer Advocate

News From New York StateSenator Shirley L. HuntleyFor Immediate Release: May 11, 2011Contact: Bryant G. Gaspard| gaspard@nysenate.gov | (518) 455-3531

Senator Huntley Acts to Protect Taxpayers by Passing ‘Office of the Taxpayer Advocate’

“Taxpayer Advocate Act” to provide voice for taxpayers and reshape state bureaucracy

May 11, 2011
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