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New York’s Fiscal Year 2022 budget increases taxes on corporations and high earners and provides relief to pandemic-hit industries.
TAKEAWAYS
Temporary increased rate for and extension of the capital base tax through 2024.
Elective pass-through entity tax to circumvent federal state and local tax deduction cap.
The New York Legislature passed New York State’s Fiscal Year 2022 budget (Budget Bill) on April 6 and 7, 2021. The Budget Bill now awaits Governor Cuomo’s signature, which is expected this week. Under the New York Constitution’s Executive Budget process, the appropriations provisions included in the Governor’s original proposed budget became law immediately upon being passed by the Legislature. If Governor Cuomo takes no action, the entirety of the bills will become law ten days after being passed by the Legislature.
Gary Gensler Confirmed As New SEC Chair As Agency Tackles GameStop Saga, ESG Boom And Cryptocurrency forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
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The Senate confirmed Gary Gensler, a progressive ally of Sen. Elizabeth Warren, to lead the Securities and Exchange Commission, the top Wall Street regulatory agency.
“Mr. Gensler is an experienced public servant with a strong record of holding Wall Street accountable,” Senate Banking Committee Chairman Sherrod Brown said Tuesday.
Senate Republicans opposed Gensler’s, arguing that he had a penchant for over regulating when he led the Commodity Futures Trading Commission during the Obama administration.
The Senate confirmed Gary Gensler, a progressive ally of Sen. Elizabeth Warren, to lead the Securities and Exchange Commission, the top Wall Street regulatory agency.
Disney Wants Out Of Ex-Analyst s Whistleblower Suit law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.