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Tag Archives: new york

Report: New York Has Largest Income Gap in the Country

The Institute on Taxation and Economic Policy released a report this month that the state of New York is home to the highest concentration of wealth, and has the largest gap between rich and poor in the United States. The … Continue reading

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New York Surpasses Half Billion in Mobile Sports Wagering Tax Revenue

New York Gov. Kathy Hochul recently announced that New York State has collected $542 million in tax revenue since the state began allowing online wagering in early January. These numbers are more than any state in the nation during that … Continue reading

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New York Medical Marijuana Dispensaries Seeking Tax Cut- Recreational Sales Incoming

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Application Period Now Open for $250 million Tax Credit Program

New York Governor Kathy Hochul has recently announced that applications are now being accepted from small businesses so long as they have completed the pre-screening process to become certified for the COVID-19 Capital Costs Tax Credit Program. This program supports … Continue reading

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Miami Dolphins Receiver Tyreek Hill, Chose Florida over New York to Lower His State Tax Payments, and He Isn’t the Only One

Over the summer, Former Kansas City Chiefs Wide Receiver, Tyreek Hill was traded to the Miami Dolphins and proceeded to sign a $120 million deal with the team. He was extremely close to a deal with the New York … Continue reading

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NYS and City Employers Will Soon Be Required to Provide a Retirement Plan for Their Employees

In October of 2021, New York State passed Senate Bill S5395A, modifying the New York State Secure Choice Savings Program which is a retirement savings program. This new modification requires all employers in the state and city to provide … Continue reading

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NYC Pass-Through Entity Tax Retroactive to January 1st, 2022

After months of talk in Congress, the New York State legislator has decided to make the Pass-Through Entity Tax (PTET) Retroactive to January 1st, 2022. This decision was tied into the nexus bill that was signed a couple … Continue reading

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Sales Tax Revenue continues to climb, Another Big Increase in July

For another month, sales tax collections in the state of New York were much higher than they were last year. It’s no secret that inflation is the main cause of the issue, forcing Americans to be cutting bigger checks for … Continue reading

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Older New York Homeowners Could See Some Tax Relief

New York Governor Kathy Hochul approved important legislation this past Monday that would provide some expanded tax relief to older homeowners in the state. This new measure will allow residents outside of New York City and over the age of … Continue reading

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Florida is Surging Past NY in New Business Openings, Data Shows

According to federal data, Florida saw twice as many new business openings in the state compared to New York last year. During COVID, Florida’s number of newly opened businesses surged due to the lack of prolonged lockdowns in the state, … Continue reading

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