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Cuomo sets up "countdown clock" for new tax changes

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Governor Andrew Cuomo has begun a countdown clock to promote his new tax code changes. Cuomo convinced state lawmakers in early December to approve the changes.

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Reported by

Karen DeWitt
NYS Capitol Correspondent

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They reinstate an income tax surcharge on the wealthiest New Yorkers, those making over $2 million dollars a year. The new laws also lower taxes on those making from $40,000 to $300,000 a year. 

People earning from $300,000 up to $2 million dollars will also get a tax break, compared to the previous year, because they will no longer be subject to the tax the rich surcharge.   

Governor Cuomo has placed a count down clock on his official website, saying that after midnight January 1st, the state will have some of the lowest income tax rates in 58 years.

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