Sentences with phrase «new federal cap»

Employers will also be given the option to shift to a payroll tax, a measure proposed by Gov. Andrew Cuomo as a workaround to the new federal cap on state and local tax deductions.

Nor does it actually restructure the state tax code in any way designed to thwart the new federal cap on state and local tax (SALT) deductions.»

The governor is looking at ways to mitigate the impact of the new federal cap on the deductibility of state and local taxes.

Cuomo had promised to provide details in Tuesday's budget address about his proposal for a new payroll tax and a novel use of charitable contributions to help offset a new federal cap on the deductibility of state and local taxes.

Each proposal is aimed at offsetting the new federal cap on deductibility by shifting state and local taxes to fully deductible tax payments such as the payroll tax and charitable donations.

Not exact matches

But according to information it provided, the new product offers credit for an introductory six - month term at 59.9 % annual interest (just below the federal usury cap of 60 %) plus a $ 21 fee per $ 100 loaned.

Under a continuing resolution passed last week in place of actual federal spending bills, Pentagon budgets are capped at 2015 levels, severely limiting the service branches» ability to start new programs or even shutdown programs they don't need anymore.

-- Canadians, under new rules unveiled by the federal broadcast regulator, will eventually be able to pick those TV channels they really want on top of a basic service that will be capped at $ 25 per month.

Since January 2014, the federal government has enforced rules on new mortgages, requiring borrowers to maintain debt loads less than 43 %; and lenders to cap loan fees as a percentage of total loan size.

In total, the SALT cap is estimated to cost New Yorkers between $ 9.5 billion and $ 15.3 billion in additional federal taxes, reducing the federal tax cut they would otherwise receive or, in many cases, resulting in a federal tax increase.

Westchester County Executive George Latimer pointed to the $ 10,000 cap on state and local tax deductions by the federal government as having «changed the game» for taxpayers in New York, making the limit on tax levy increases all the more important.

Gov. Andrew Cuomo went to the Teamsters Local 456 headquarters in his home county of Westchester on federal Tax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local taxes.

Gambling operators and state legislators in New York are scrambling to craft a new regulatory framework after a federal cap on the states allowed to offer sports wagering was struck down by the U.S. Supreme CouNew York are scrambling to craft a new regulatory framework after a federal cap on the states allowed to offer sports wagering was struck down by the U.S. Supreme Counew regulatory framework after a federal cap on the states allowed to offer sports wagering was struck down by the U.S. Supreme Court.

New York state lawmakers found a clever way for employers to help their workers circumvent a new $ 10,000 federal cap on state and local tax deductioNew York state lawmakers found a clever way for employers to help their workers circumvent a new $ 10,000 federal cap on state and local tax deductionew $ 10,000 federal cap on state and local tax deductions.

The Cuomo administration is floating a federal tax reform work - around aimed at partnerships with the most to lose from the new cap on SALT deductions.

Now, Kenneth Raske of the Greater New York Hospital Association is pulling hard the other way: «New York's financially struggling hospitals were living austerely within the state's Medicaid spending cap well before the recent avalanche of federal health care cuts,» Raske told the Daily News» Kenneth Lovett, «while other sectors, such as education, have not been held to theirs.»

The budget includes his proposal to help those negatively impacted by the new federal tax code, which caps a deduction for state and federal taxes that is especially popular in high - tax states such as New Yonew federal tax code, which caps a deduction for state and federal taxes that is especially popular in high - tax states such as New YoNew York.

New York Governor Andrew Cuomo, who is expected to sign the measure, called the federal SALT cap «an economic arrow aimed at the heart of this state's economy.»

The cap will result in higher federal taxes for some New Yorkers, particularly on Long Islander who itemize on their federal tax return and pay high property taxes.

He itemized and deducted $ 14,336 in state income taxes — more than the $ 10,000 cap imposed by the new federal law — and deducted no property taxes.

New York lawmakers have passed two proposals to let state residents skirt the new $ 10,000 federal cap on state and local tax deductioNew York lawmakers have passed two proposals to let state residents skirt the new $ 10,000 federal cap on state and local tax deductionew $ 10,000 federal cap on state and local tax deductions.

This is because «the new federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New York.&raqnew federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New York.&raqNew York.»

The new federal tax law that caps state and local tax deductions at $ 10,000 sent officials in high - tax states like New Jersey scrambling to blunt the potential impact on taxpayenew federal tax law that caps state and local tax deductions at $ 10,000 sent officials in high - tax states like New Jersey scrambling to blunt the potential impact on taxpayeNew Jersey scrambling to blunt the potential impact on taxpayers.

While Mayor Bill de Blasio was being sworn in by progressive icon Vermont Sen. Bernie Sanders for a second term, and promising a «progressive era» for New York City, Cuomo was back to a theme he's been on since the previous year: The federal government's tax legislation that caps state and local deductions at $ 10,000.

Gov. Andrew Cuomo told reporters on Long Island Wednesday that he will push for a repeal of the federal tax overhaul that caps state and local deductions at $ 10,000 — a move he has said hurts New York.

Cuomo is also pushing to expand charitable deductions for taxpayers in New York that could let them recover from the federal cap on deductions — a move that follows the broad outlines being considered by California officials, another high - tax state that is reacting to the SALT cap.

The recently enacted federal tax law will raise many New Yorkers» federal taxes by sharply capping a deduction for state and local taxes that was especially popular in high - tax states.

The SALT cap also will increase the effective cost of State and local government services at the margin; each new dollar of State and local government spending will cost New York taxpayers more than under previous federal lnew dollar of State and local government spending will cost New York taxpayers more than under previous federal lNew York taxpayers more than under previous federal law.

BREAKING... FEDS CLOSE TO GRIMM CHARGES: Federal prosecutors are preparing criminal charges against two - term New York GOP Rep. Michael Grimm, capping a two - year FBI investigation that ranges from his business dealings to his first campaign for Congress in 2010, U.S. officials briefed on the matter said.

New York State lawmakers did not retreat from their commitment to public schools in spite of the cap on state and local tax deductions in the federal tax overhaul.

When congress passed the new federal tax law in December, it capped the state and local tax deduction at $ 10,000.

New York's first - in - the - nation response to the new federal tax package and its cap on the deductibility of state and local taxes is now law, but the impact of the measure remains uncertain, experts sNew York's first - in - the - nation response to the new federal tax package and its cap on the deductibility of state and local taxes is now law, but the impact of the measure remains uncertain, experts snew federal tax package and its cap on the deductibility of state and local taxes is now law, but the impact of the measure remains uncertain, experts say.

Clinton urged Silver's Assembly to «absolutely» pass a Senate bill that would more than double the cap to 460 from 200 — and «not just because of the federal funding» (the up to $ 700 million that New York could win in a competition for states that enact education reforms).

Let's be clear: With the application deadline for the federal cash looming, Duncan's presence in New York telegraphs serious White House interest in the fate of the charter cap.

The conviction and hefty sentence — the second highest for a state politician convicted of corruption in the past decade — has capped a stellar run of Albany and New York City corruption cases brought by Manhattan US Attorney Preet Bharara and federal authorities in Brooklyn.

It will be horrible for millions of families and individuals in 12 Democratic states, including New York and New Jersey, because the tax plan's cap on deductions of state and local taxes will mean higher federal taxes and less money in their wallets.

The law will raise many New Yorkers» federal taxes by sharply capping a deduction for state and local taxes that was especially popular in high - tax states.

Nixon will likely be the beneficiary of small - dollar donations — something that has not really been tried at a statewide level in New York, where contribution limits are far higher than the federal cap.

Cuomo has proposed far more sweeping changes to the state's tax code that he says are needed to soften the blow of the new federal tax law, which will raise the federal taxes of many New Yorkers by capping a deduction for state and local taxes at $ 10,0new federal tax law, which will raise the federal taxes of many New Yorkers by capping a deduction for state and local taxes at $ 10,0New Yorkers by capping a deduction for state and local taxes at $ 10,000.

The association also says the bill's new formula for the federal government's share of Medicaid — known as the «per capita cap» — would end Medicaid as an open - ended entitlement and impose limits on payments to hospitals for low - income patients.

Assemblyman Sheldon Silver — one of the most powerful men in Albany for two decades and a constant in shaping state policy under five governors — was found guilty Monday of selling his office for legal fees, capping a trial that cast new light on the capital's lax ethics laws and handing federal prosecutors a big win in a case that had lacked a smoking gun.

The Senate suggests that the city adopt the cap in light of the new federal tax law, which eliminates federal income tax deductions for state and local taxes (SALT).

The court ruling, by Manhattan federal Judge Paul Crotty, threw out New York's $ 150,000 cap on how much money an individual can contribute to independent political - action committees that back candidates.

Champagne corks popped in Albany yesterday as top state education officials declaimed a new deal with the unions that they said will lead to better teachers, a greater shot at federal funds for New York and possibly a hike in the charter - school cnew deal with the unions that they said will lead to better teachers, a greater shot at federal funds for New York and possibly a hike in the charter - school cNew York and possibly a hike in the charter - school cap.

The new federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New Yonew federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New YoNew York.

«New York's financially struggling hospitals were living austerely within the State's Medicaid spending cap well before the recent avalanche of Federal health care cuts, while other sectors, such as education, have not been held to theirs,» said Kenneth Raske, president of the Greater New York Hospital Association.

Basically, the federal agency said that tax filers can only avoid the new cap on the property tax deduction by paying property taxes that have been assessed in 2017.

To help pay for those breaks, the new federal law caps the deductibility of state and local taxes for individuals at $ 10,000.

Under the new federal law, the deduction for state and local property and income taxes is capped at $ 10,000.

Pokalsky noted that the federal government is poised to reconsider some exemptions in the tax code that could include capping the amount of state income tax — which for wealthy New Yorkers is not a small number — that can be deducted from a federal tax return.