Sentences with phrase «proposed federal tax law»

Even with the proposed federal tax law changes pending, here are a few places to start:

Not exact matches

Cuomo has proposed legislation that could create more than 2,000 new local government entities to accept charitable donations from residents who want to try to get around limits on state and local taxes in the new federal tax law.

Cuomo had proposed the payroll tax and charitable foundations as ways to help cushion the impact of the new federal tax law and its $ 10,000 limit on deductions for state and local taxes.

Cuomo last week proposed replacing the state's personal income tax with a payroll tax as a response to the federal tax law capping state and local tax deductions at $ 10,000.

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.

Republican Rep. John Faso released a letter Wednesday sent to the tax policy office at the U.S. Department of Treasury that seeks to clarify whether Gov. Andrew Cuomo's proposed workarounds for a $ 10,000 cap on state and local tax deductions are legal under federal law.

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 $ 10,000.

And it wants a state - level plan to «recapture» some of the savings large corporations are receiving through the new federal tax law, something Cuomo has proposed in his budget.

Cuomo's proposed changes come after federal tax law capped state and local income tax deductions.

As expected, the new budget amendments also include a proposed shift — for the increasing minority of taxpayers who will still itemize under the new federal law — away from state income tax payments to an employer - paid payroll tax system.

ALBANY — Gov. Andrew M. Cuomo has proposed legislation that could create more than 2,000 new local government entities to accept charitable donations from residents who want to try to get around limits on state and local taxes in the new federal tax law.

A Cuomo administration budget official said the proposed payroll tax also could be used to raise more revenue by seizing some of the tax cuts promised to corporations and the wealthy under the federal tax law, as a way to shore up state finances.