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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.
"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 ...
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.
Local municipalities pay both an MTA Platform Tax and an MTA Payroll Tax to the State of New York via our Town and County taxes. ... The effect is automatic and mandatory pay increases where a ...
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 ...