Albany, N.Y. – The New York State Senate has passed legislation (S.2682) that repeals the “cost recovery” tax imposed on local economic development agencies in 2009 and also requires the State to reimburse agencies for any monies previously paid.
State Senator Michael H. Ranzenhofer introduced the bill in the State Senate.
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
By: Michael H. Ranzenhofer, State Senator - 61st District
In 2009, the State Budget imposed an energy tax surcharge, known as the two percent utility tax, that has cost each and every ratepayer in New York State $2.5 billion over the last four years. I voted against this tax surcharge because it hurt businesses, hindered job growth, and took more money away from families and seniors.
Surcharge set to expire March 2014 Executive budget calls for 5-year extension Businesses, consumers to pay $3 billion more in taxes
Albany, N.Y. – State Senator Michael H. Ranzenhofer (R, C, I – Amherst) has announced his opposition to a five-year extension of the 18-a surcharge as proposed in the Executive Budget. The energy tax surcharge is scheduled to expire on March 31, 2014.
Restores STAR rebate checks for millions of New Yorkers
Increases tax credits to help struggling middle-class families
Albany, N.Y. – State Senator Michael H. Ranzenhofer (R, C, I – Amherst) joined members of the Senate Republican Conference today to unveil the Family Tax Relief Act. The plan would restore the STAR property tax rebate check program and increase tax breaks that have not kept pace with inflation for more than 25 years.
Eliminates state and local tax deduction on Federal tax return 139,101 WNY taxpayers would be hit with average tax hike of $2,800 Over 3.2 million New Yorkers to see tax increase if enacted
State Senator Michael H. Ranzenhofer today urged New Yorkers to sign his new online petition, rejecting Federal budget proposals that would increase taxes on Western New Yorkers by an average of $2,800. Click here to sign the petition.