Sentences with phrase «from changes to the federal tax code»

Not exact matches

Gov. Andrew Cuomo's proposal to change the state tax code to get around the loss of deductions under the new federal law is «the work of a mind severed from reason and reality,» GOP gubernatorial candidate John DeFrancisco, the deputy state Senate majority leader, said.

Officials say that unless New York changes its tax code to delink it from the federal code, state taxpayers could see their tax burden increase by $ 1.5 billion — potentially worsening the pain to New Yorkers already dealing with the curbing of state and local tax deductibility.

He also will propose a major retooling of the state tax code to deal with the federal tax changes and seek increased reserves in anticipation of further cuts from the feds.

Both the Senate and Cuomo have proposed decoupling the state tax code from the federal law in order to soften the impact of the federal tax changes on New York taxpayers.

New York State Comptroller Tom DiNapoli warns of a «problematic» budget season, as the state faces a structural deficit, changes to the federal tax code, and uncertainty over continued funding from Washington.

The business owner could then deduct the payroll tax from the company's taxes, which is still allowed under the changes to the federal tax code.

Gov. Cuomo's proposal to change the state tax code to get around the loss of deductions under the new federal law is «the work of a mind severed from reason and reality,» GOP gubernatorial candidate John DeFrancisco said Monday.