Companies joining the new payroll tax system would pay a 5 percent tax on payroll expenses that are over $ 40,000 per employee. (buffalonews.com)
On Wednesday, the state Department of Taxation and Finance released a preliminary report providing some options for getting out of the way, such as replacing taxes with federally deductible charitable contributions to state - run funds or adopting a statewide payroll tax system in lieu of state income taxes. (cityandstateny.com)
Senator DeFrancisco also took aim at Governor Cuomo's head scratching proposal to further burden New York businesses by creating a new, legally questionable scheme to create a employer - paid payroll tax system in New York to run alongside its existing income tax system. (rocklandtimes.com)