The state has already seen a migration of its most affluent residents leaving their abodes.
taxpayers who earned between $1 million and $5 million decreased by 11 percent in 2020 from the previous year, according to a newly released analysis by the Independent Budget Office, an agency that tracks funds in the Big Apple.
Currently, the state is dealing with a budget deficit of $148 million for the next fiscal year. But as expenses in education, pensions and health care increase, it could cause that debt to skyrocket into the multibillion-dollar range. Former Governor Andrew Cuomo, along with other lawmakers, already raised state tax rates for New York’s affluent residents in 2021; now, those earning between $5 million and $25 million are taxed at 10.3 percent, with those making over $25 million set at 10.9 percent. Combined with New York City’s income-rate levy of 3.88 percent, the total tax rate for these individuals would be between 13.5 percent and 14.8 percent. That’s more than California’s 13.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
New Yorkers grapple with 24% increase in breakfast ingredientsGrocery shoppers in the city were shelling out more than $8 for a dozen eggs, which are 49% more expensive than they were last year nationwide, according to the latest figures.
Weiterlesen »
New NXT Tag Champs New Day Headline A New NXT Tonight On USAOur preview of tonight's WWENXT on USA, where we'll see all of the fallout of this past Saturday's NXTDeadline premium live event on Peacock and we'll hear from the new NXT Tag Team Champs TheNewDay. WWE
Weiterlesen »
State files for new judge in Fairfield County in effort to halt new Columbus gun codesOhio Attorney General Dave Yost wants a Fairfield County judge to stop Columbus from imposing gun restrictions.
Weiterlesen »
Op-Ed | A safer New York | amNewYorkWhile I was on the campaign trail, I met many New Yorkers who expressed their desire for a safer city. New Yorkers want to feel safe in their neighborhoods,
Weiterlesen »
Liberal NYC mayor defends high-income earners after mass exodus, tells critics 'stop dividing our city'New York City Mayor Eric Adams defended wealthy New Yorkers as an important part of the state's recovery from the pandemic and told critics to 'leave.'
Weiterlesen »
HBO’s ‘Sex Diaries’ Series Drops FridayLove reading our 'Sex Diaries' column every week? Try watching it. 'Sex Diaries' premieres on HBO this Friday at 11 p.m. ET with a special two-episode drop
Weiterlesen »