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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.
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 rate of .21 percent for New York City’s five boroughs would remain in effect. The estimated savings from the elimination of the MTA Payroll Tax would be $767 million.
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 MTA is proposing to increase fare and toll revenues by 7.5 percent in January 2011. As proposed, this increase could mean as much as a 9.4 percent fare increase for Long Island Rail Road ...
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.
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 MTA may be on better financial footing through 2024 thanks for an influx of federal funding, but transit officials won't commit to holding off on fare increases beyond 2021. (Yassie Liow/Patch)
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.