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Chief among them is raising the state’s payroll mobility tax from 0.34 percent to 0.5 percent, Hochul said. Doing so will yield $1 billion for the MTA, she said.
On February 1, 2023, as part of her Executive Budget proposal to the New York State Legislature, Governor Kathy Hochul proposed raising the MTA payroll tax, a move projected to increase revenue by $800 million, and also giving the MTA some of the money from casinos expected at present to be licensed soon for business in Manhattan.
At the same time, the tax would be reduced for New York City’s five boroughs to .28 percent on January 1, 2013; then .21 percent on January 1, 2014.
The state Senate has passed legislation to derail the payroll tax put in place last year to rescue the Metropolitan Transportation Authority from a big budget deficit.
The ruled the MTA Payroll Tax that drained $1.4 billion from New York’s downstate economy . Unfortunately, NYC-based interests are already working to overturn the ruling so I want to share some ...
The MTA tax rate is .0034 or .34%, meaning that small businesses pay $3.40 for every $1,000 of payroll. So, if your annual payroll is $100,000, you only end up paying an extra $340 worth of tax ...
In July 2010, Mangano announced that Nassau County had filed a lawsuit against the State of New York and the Metropolitan Transportation Authority (MTA) challenging the legality of the 0.34% Metropolitan Commuter Transportation Mobility Tax, a payroll tax levied on employers in the 12-county area served by the MTA.
Local leaders and business people have railed against tax since it was adopted in 2009. Brendan J. O'Reilly , Neighbor Posted Mon, Jan 2, 2012 at 8:20 pm ET | Updated Tue, Jan 3, 2012 at 3:09 pm ET