Issues: Taxes

STATE SENATOR LEE ZELDIN JOINS GOVERNOR CUOMO FOR BILL SIGNING OF LAW REPEALING MTA PAYROLL TAX FOR OVER 700K TAXPAYERS

West Hempstead, N.Y. – State Senator Lee M. Zeldn (R, C, I- Shirley) joined his legislative colleagues and Governor Andrew M. Cuomo today as the Governor signed into law a new measure to eliminate the MTA Payroll Tax for approximately 80 percent of all employers currently paying the tax.

Last week, the Legislature passed a bill repealing the MTA Payroll Tax for 78.2 percent of all employers (over 700,000 taxpayers). In addition, thousands more will see a reduction. In addition to the 290,000 employers who will have their tax eliminated, 414,000 self-employed taxpayers will also see the MTA Tax repealed. All elementary and secondary schools, both public and private, will now also be completely exempt from the payroll tax.

December 12, 2011
Read more...

Oppenheimer joins Governor Cuomo at bill signing ceremony for legislation reducing or eliminating MTA payroll taxes on small businesses

Senator Suzi Oppenheimer joins Governor Andrew Cuomo at the bill signing ceremony for recently enacted legislation that reduces, or in many cases eliminates, the MTA payroll tax obligation on small businesses, schools and self-employed individuals.  Oppenheimer applauded the bill as an important first step towards the eventual elimination of the MTA payroll tax for suburban counties.

December 12, 2011
Read more...

GOVERNOR CUOMO SIGNS LAW TO PROVIDE RELIEF FOR SMALL BUSINESSES THROUGH REDUCTION OF MTA PAYROLL TAX

In Nassau County, Governor Signs Legislation to Cut Taxes For More Than 700,000 Small Businesses and Self-Employed New Yorkers 

Governor Andrew M. Cuomo today traveled to West Hempstead, Nassau County, to sign a new law that will reduce the MTA payroll tax, providing relief for more than 290,000 small businesses and more than 410,000 self-employed New Yorkers. The tax reduction is part of the Governor's comprehensive plan, passed by the legislature last week, to create jobs and cut taxes for middle class New Yorkers, and revitalize the state's economy. 

December 12, 2011
Read more...

CUTTING YOUR TAXES AND CREATING JOBS

This year, the new leadership we built in the State Senate, in close partnership with Governor Cuomo, took strong and decisive action to change the direction of our State. We eliminated a $10 billion deficit, brought State spending under control and capped property taxes for the first time in our State's history.

As we look forward to a new year, it is important that we build on this success and take the next steps to cut taxes and create jobs.

December 12, 2011
Read more...

Senator Carlucci Speaks on Middle Class Tax Cut and Job Creation Plan

Senator Carlucci speaks on the senate floor in Albany before his vote to provide middle class tax relief, reduce or eliminate the MTA payroll tax and invest in our economy.

December 12, 2011
Read more...

Senator Carlucci Saves Small Businesses Money

Senator David Carlucci today visited Adam Lipson, President & CEO of Network & Security Technologies, to discuss the importance of the new MTA payroll tax reduction on small businesses.  On Wednesday night, the New York State legislature voted to eliminate or substantially reduce the MTA payroll tax for businesses whose payroll is $1.25 million and under. 

December 12, 2011
Read more...
December 9, 2011
Read more...

Carlucci Passes Tax Reduction Plan

Senator David Carlucci on Wednesday voted to bring a more fair and progressive tax system to New York that will cut taxes for middle class taxpayers and bring relief to small businesses and non-profit organizations affected by the MTA payroll tax.

December 9, 2011
Read more...

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
Read more...

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
Read more...

Historic Middle Class Tax Cut and Job Creation Plan, Cuts Taxes, Reduces Job Killing MTA Payroll Tax.

 

New York State Senator Kenneth P. LaValle (R, C – Port Jefferson) said that the Senate, today, passed historic tax and job creation legislation  that will spur the economy and provide relief to overburdened taxpayers.

The Middle Class Tax Cut and Job Creation Plan will cut taxes for millions of New Yorkers, create thousands of new private sector jobs and begin to turn our economy around.

Under this plan:

December 9, 2011
Read more...

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
Read more...

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
Read more...

Senator Krueger Speaks with WNYC's Brian Lehrer Regarding Gov. Cuomo's Tax Plan

Senator Liz Krueger, who represents Manhattan's 26th district in the New York State Senate, reacts to reports that Governor Cuomo will propose a higher tax rate for high income earners.

Listen Here

December 8, 2011
Read more...

Liz Krueger, 'Nixon Liberal', Worries that Cuomo's Tax Plan Just Tinkers With Real Problems

By Azi Paybarah

If Andrew Cuomo makes adjustments to the state tax code that shift more of the burden from poor people to rich people without necessarily generating any more overall revenue for the cash-strapped government, is it truly progressive?

State Senator Liz Krueger, a liberal Democrat from Manhattan who wrote her master's thesis on tax policy while at the University of Chicago, thinks not.

"The state needs the money," Krueger told me Friday. "I think it's imperative we not cut services for the neediest New Yorkers when demands are skyrocketing."

December 8, 2011
Read more...

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
Read more...

SENATOR FUSCHILLO STATEMENT ON PASSAGE OF TAX CUT, ECONOMIC DEVELOPMENT, & INFRASTRUCTURE IMPROVEMENT PLAN

“I am pleased that the Legislature and the Governor worked together in a bipartisan fashion to address the right priorities needed to help our economy grow; cutting taxes, creating jobs, and upgrading our infrastructure. In stark contrast to Washington, which is plagued by partisan gridlock, New York State is addressing the critical issues we face and delivering the results that residents expect and deserve.

Working together, we delivered $690 million in personal income tax relief for over 4.4 million taxpayers, allowing them to keep more of their hard-earned money. Middle-class taxpayers will see the lowest tax rates in 50 years and no New York State resident will see an increase in the income tax rate they are currently paying.

December 8, 2011
Read more...

Senator Grisanti Speaks About Middle Class Tax Cuts and Job Creation

About The Middle Class Tax Cut and Job Creation Plan

In stark contrast to the gridlock in Washington D.C., the Senate Republican Majority has worked together with Governor Andrew Cuomo to accomplish major changes and positive reforms this year. The new Middle Class Tax Cut and Job Creation Plan will build on these successes by cutting taxes for hardworking middle class families, and helping to create new private sector jobs.

Click here to read an overview and fact sheet about The Middle Class Tax Cut and Job Creation Plan:

December 8, 2011
Read more...

Senate Passes $3.3 Billion Tax Cut and Job Creation Plan

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

December 8, 2011
Read more...
Syndicate content