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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.
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...
The New York City Transit Authority (also known as NYCTA, the TA, or simply Transit, and branded as MTA New York City Transit) is a public-benefit corporation in the U.S. state of New York that operates public transportation in New York City.
The Martins-Zeldin plan calls for the MTA Payroll Tax to be phased out each year until 2014, when it will be completely eliminated.
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 tax rate schedules give tax rates for given levels of taxable income. There is a complex relationship between taxable income and actual income, making it difficult to draw conclusions from the tables.
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