The Capitol building in Albany. Five days into the new fiscal year, Gov. Andrew Cuomo and legislative leaders say they have a “conceptual agreement” on a new state budget.
If the deal holds, it would include $4 billion in new taxes, including higher income tax brackets on millionaires and a tax increase for some large corporations.
If it doesn t hold and isn t finalized Tuesday, then paychecks to some 39,000 state workers, including many front-line essential employees, will be delayed, warned state Comptroller Tom DiNapoli.
Under the budget agreement, New Yorkers who make more than $1 million a year would see their taxes increased by nearly one percentage point. Two new higher tax brackets would be added for those with annual incomes over $5 million and over $25 million.
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Five days into the new fiscal year, New York Gov. Andrew Cuomo and legislative leaders say they have a “conceptual agreement” on a new state budget. If the deal holds, it would include $4 billion in new taxes, including higher income tax brackets on millionaires and a tax increase for some large corporations.
If the budget agreement is approved, New Yorkers who make more than $1 million a year would see their taxes increased by nearly one percentage point. Two new higher tax brackets would be added for those with annual incomes over $5 million and over $25 million.
It would make New York’s combined state and local taxes on the wealthy the highest in the nation.
Lawmakers reach conceptual agreement on state budget wbfo.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wbfo.org Daily Mail and Mail on Sunday newspapers.
Credit Kenneth C. Zirkel / Wikimedia Commons
Five days into the new fiscal year, Gov. Andrew Cuomo and legislative leaders say they have a “conceptual agreement” on a new state budget. If the deal holds, it would include $4 billion in new taxes, including higher income tax brackets on millionaires and a tax increase for some large corporations.
If the budget agreement is approved, New Yorkers who make more than $1 million a year would see their taxes increased by nearly one percentage point. Two new higher tax brackets would be added for those with annual incomes over $5 million and over $25 million.
It would make New York’s combined state and local taxes on the wealthy the highest in the nation.
Letter: Virus tests essential for opening schools auburnpub.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from auburnpub.com Daily Mail and Mail on Sunday newspapers.