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Letter
Taxes
New York State Should Create an Unincorporated Business Tax
A Letter to the NYS Department of Taxation and Finance
July 26, 2018
A UBT is needed to blunt the impact of federal tax reform; here are CBC's recommendations for designing it.
Press Mention
Taxes
New York Crafts Loophole to Protect Property Tax Deductions. But the I.R.S. Could Close It.
The New York Times
April 01, 2018
Tax experts said two plans Gov. Andrew M. Cuomo pushed for in the budget face certain challenges. One, which in effect converts local property taxes into charitable contributions, will most likely be questioned by the Internal Revenue Service. And the other — a complicated option to convert the state income tax to a payroll tax — may prove difficult to sell to businesses and employees. That plan would lower the gross salary for workers but seek to keep their net pay equal to what it was before the federal cap went into effect.Carol Kellermann, president of the Citizens Budget Commission, a fiscal watchdog group, said the plans are worth trying.
“A lot of people are criticizing the provisions, saying they won’t work,” Ms. Kellermann said. “It’s worth trying. There’s no downside to creating the vehicles to try these out.”
Letter
State Budget
Significant Impacts the Tax Cuts and Jobs Act on the Residents and Revenues of New York State
Letter to Governor Cuomo
March 20, 2018
I write to convey the Citizens Budget Commission’s findings about the significant impacts the Tax Cuts and Jobs Act (TCJA) will have on the residents and revenues of New York City and New York State and recommended steps needed to address these problems.
Letter
Taxes
Significant Impacts the Tax Cuts and Jobs Act on the Residents and Revenues of New York City
Letter to Mayor de Blasio
March 20, 2018
I write to convey the Citizens Budget Commission’s findings about the significant impacts the Tax Cuts and Jobs Act (TCJA) will have on the residents and revenues of New York City and New York State and recommended steps needed to address these problems.