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A potential payroll tax increase is part of a potential longterm fix that Hochul proposed for the MTA’s perilous financial position. ... Chief among them is raising the state’s payroll ...
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.
"That’s why we fought so hard to successfully exempt our counties from this year’s increase in the MTA payroll tax; that’s why we successfully pushed for the largest west-of-Hudson MTA ...
Tax-free commuter benefits, also known as qualified transportation fringes, are employer provided voluntary benefit programs that allow employees to reduce their monthly commuting expenses for transit, vanpooling, bicycling, and work-related parking costs. The benefit is a federal tax benefit authorized under the Internal Revenue Code Section ...
New York State enacted a payroll tax to help fund the agency. The tax charges all employers within the area serviced by the MTA 34 cents for every $100 of payroll. Nassau recently filed a lawsuit ...
Ball Announces Plan to Phase-Out MTA Payroll Tax - Yorktown-Somers, NY - NYS Senators Greg Ball and Lee Zeldin presented their plan to phase-out the MTA payroll tax during a press conference in ...
Assemblymen Push to Eliminate MTA Payroll Tax From NCC - Garden City, NY - Move would save Nassau Community College more than $400,000 each year, according to Joseph Saladino.
Graf: MTA Payroll Tax Deduction Increases Job Creation - Sachem, NY - Assemblyman was joined by other area pols with Gov. Cuomo as reduction of payroll tax was announced this week.
The potential tax would go toward raising the $1 billion the MTA needs to avoid a planned fare hike for subways and buses to $3, the report states. Hochul's preferred solution to avoid the hike ...