News stories tagged with "tax"

(02/07/12) Occupy protesters briefly disrupted a state budget hearing at the State Capitol Monday. They said they're angered by inequities in the tax system. In Albany, Karen DeWitt reports. more

(02/06/12) A coalition of labor unions, religious groups, and others is urging Governor Cuomo and the legislature to close what they say are loopholes in the law. As Karen DeWitt reports, they say those loopholes are shielding large corporations from having to pay their fair share of taxes. more

(02/02/12) Mandate relief--especially on Medicaid costs--was at the forefront of many county leaders' minds at the annual meeting this week of the New York State Association of Counties.

In his budget address January 17th, Governor Cuomo laid out a plan for the state to take over increases in Medicaid costs over the next few years--but some county leaders say that's not enough. more

(12/08/11) New York lawmakers piled on last night to approve an overhaul of the state's income tax rates. First, the Republican led Senate voted 55-0 for the measure. The Assembly followed with a 130-8 vote.

The measure was backed by Governor Andrew Cuomo. It will increases taxes on millionaires, but give 4.4 million middle-class residents a rare break worth $200 to $400 a year.

State Senate Republican Leader Dean Skelos says it's the first rate reduction for middle class earners in 50 years. But conservative critics say New York will continue to have one of the nation's highest tax rates, and New York City residents will pay the highest rate in the nation.

The deal required a change of mind for most of the lawmakers who passed it last night, and for Gov. Cuomo, who had promised to "freeze" taxes during his campaign last year. As they gathered for the vote yesterday, lawmakers were busy portraying the deal in the best possible light. Critics complained about the hasty, behind-closed-doors process. In Albany, Karen DeWitt reports. more

(12/07/11) Governor Cuomo and legislative leaders have announced a deal they say will raise taxes on the rich, and slightly lower taxes for the middle class. In Albany, Karen DeWitt has this report. more

(12/06/11) Behind the scenes talks in Albany could result in a revamped state tax code, apparently increasing taxes on the wealthy next year. Governor Cuomo, who is asking for the changes, is also proposing a gambling expansion and other initiatives.

Cuomo promised to "freeze taxes" since his campaign a year ago, is now pushing the changes. The plan would also cut taxes for the middle class.

Cuomo continues to avoid saying he supports a tax hike for the rich. But after a year of strongly opposing a "millionaire tax," Cuomo has said he's open to the idea. As Karen DeWitt reports, the governor hopes the legislature will consider his proposals later this week. more

(11/15/11) Governor Cuomo's budget office released some bad news yesterday. The state's budget gap is even bigger than expected, with a $350 million dollar shortfall for the current year and a $3.5 billion dollar gap next year. more

(10/21/11) The outlook for next year's state budget is looking increasingly grim, as a new report from the State's Comptroller brings more bad news about tax collections. Karen DeWitt has our story: more

(05/19/11) A proposal by Assembly Democrats to continue an income tax surcharge on millionaires is being praised by the teacher's union, but rejected by Senate Republicans. more

(08/10/07) There are 11 Empire Zones in the North Country. All include businesses that have received letters from the state and must account for their low investment or job creation. The numbers range from just three in the Franklin County zone to more than 50 in Watertown. Victoria Zinser-Johnson is coordinator of the Clinton County Empire Zone. There 7 of 40 participating businesses received warnings from the state. One has since gone bankrupt. Zinser-Johnson told David Sommerstein she's encouraging the remaining six to set up a meeting with her to review their Empire Zone commitments.