Ads
related to: mta payroll mobility tax- About Us
We Offer Top-Quality Financial
Solutions That Meet Your Needs.
- Contact Us
Call Us Or Fill Out Our Online Form
To Get In Touch With Us Today.
- Services
We Offer A Wide Range Of
Accounting & Tax Services.
- Tax Services
We Provide Top-Notch Tax Services
That Ensure Accurate Tax Returns.
- About Us
gusto.com has been visited by 100K+ users in the past month
Search results
Results from the Go Local Guru Content Network
The cash-strapped MTA will get $1.1 billion in the budget deal — a bailout that likely will forestall fare hikes. The deal proposes to do this by raising the state's payroll mobility tax...
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.
This tax, known popularly as the "mobility tax", or the "MTA tax", is intended to provide funds for the Metropolitan Transportation Authority, which transports many of the region's commuters. Philadelphia has a 3.924% wage tax on residents and a 3.495% tax on non-residents for wages earned in the city as of August 2013.
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.
New York City dwellers also will pay more — from 0.34 to 0.5 percent — in a payroll mobility tax, he noted.
This tax is expected to fund $120 billion in highway and transit projects over 40 years. The tax is also expected to support over 778,000 jobs in the Los Angeles area and $79.3 billion in economic output.