Sentences with phrase «says state tax revenues»

A new report says state tax revenues increased in the final three months of last year as the improving economy boosted income and sales taxes receipts.

Not exact matches

«In addition to ending a key front in the racist war on drugs, regulating and taxing marijuana would generate hundreds of millions of dollars of tax revenue for our people and create important agricultural opportunities for our state,» Nixon said in the Twitter video.

He said he and his wife paid back taxes for employing the maid to the US Internal Revenue Service and to the state of California.

«When Wall Street does well, the city and state benefit from higher tax revenues,» Thomas DiNapoli, the state comptroller, said in a statement.

«Oftentimes if there are no state income taxes, the state will need another revenue source,» he said.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

The study's authors say they used the same methods researchers developed in a 2009 report titled «State and Local Government Sales Tax Revenue Losses from Electronic Commerce,» compiled by business professors at the University of Tennessee.

«One thing is for sure,» the reports says, «state and local governments face large fiscal uncertainties and state forecasters are struggling to sort out various impacts of the TCJA on the state tax revenues.»

The Rockefeller Institute of Government, which released a new state revenue report on Monday, said that «The Tax Cuts and Jobs Act (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqTax Cuts and Jobs Act (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqtax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqtax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.»

Tax officials in a few states said they do not track individual tax payments, though state budget officials typically follow total quarterly tax payments by the rich to make sure revenue projections hold Tax officials in a few states said they do not track individual tax payments, though state budget officials typically follow total quarterly tax payments by the rich to make sure revenue projections hold tax payments, though state budget officials typically follow total quarterly tax payments by the rich to make sure revenue projections hold tax payments by the rich to make sure revenue projections hold up.

«Currently, under federal banking laws, many legal, regulated legitimate marijuana businesses — operating legally according to state law — are prevented from maintaining bank accounts and accessing financial products like any other business, such as accepting credit cards, depositing revenues or writing checks to meet payroll or pay taxes,» Perlmutter said.

«Though Congressional Republicans say they hate drugs,» he says, «if they take away revenue from people in California and New Jersey, these states have to make up the revenue somehow and they aren't going to raise taxes, so I do think cannabis will [be legalized] a lot faster than otherwise.»

Overall, the park district «s budget is about $ 100,000 higher than last year, but Woods said recent state laws limiting the growth of property - tax revenues and the issuance of bonds without voter approval may put the district in a financial bind next year.

The tax rate increase request is in response to the drop in property - tax revenues caused by the state tax cap, she said.

An increase in corporate income - tax revenue from the state, which the Park District said reflected a better economy, also helped avert a property tax hike.

State Comptroller Tom DiNapoli gave NYC Mayor Bill de Blasio's budget proposal a thumbs up for the short term, saying he made appropriate use of higher than expected tax revenues to reduce out - year budget gaps and to replenish reserves.

And he rebuffed concerns the tax cap for New York City would harm its revenue, saying it was important to promote low - tax policies there, and pointed to the success of limiting levy growth elsewhere in the state.

Democratic state Senate candidate Sara Niccoli in a radio interview Tuesday questioned the wisdom of funding school districts primarily through property tax revenue, saying the state is a generation behind in properly funding education.

«Whether we have more revenue or not, my Senate colleagues and I are not going to support additional taxes in the state of New York,» said Sen. James Tedisco, a Republican from the Albany area.

You see, the governor says other tax revenues for the MTA were up this year (like gas taxes and other fees), meaning both dedicated and discretionary funds for the MTA coming from the state totaled $ 4.486 billion in «17 - 18, compared to the $ 4.456 billion from «16 - 17.

State officials said that some districts have been saddled with tax caps for 2016 - 2017 that allow less revenue than the current year.

«Even if we only lose a small number of high - income tax payers, that would cripple the state's revenues,» Mujica said.

New York State does not have a revenue problem, Adams said, pointing to data from the state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory State does not have a revenue problem, Adams said, pointing to data from the state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory state's Division of the Budget showing that total state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory state tax receipts are up $ 2.2 billion this fiscal year and will grow another $ 2.4 billion in 2008 - 09 without any change in our tax code or regulatory fees.

Proponents of raising taxes on New York's wealthiest say they have a new impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other areas.

The zero percent growth in the state's tax cap this year is «severely crippling» school districts and their ability to raise revenue, the New York State United Teachers union said on Wednesday in its prepared testimony to state lawmastate's tax cap this year is «severely crippling» school districts and their ability to raise revenue, the New York State United Teachers union said on Wednesday in its prepared testimony to state lawmaState United Teachers union said on Wednesday in its prepared testimony to state lawmastate lawmakers.

Opponents of gambling expansion in the state pushed back Thursday, saying such a move is about generating revenue so lawmakers can avoid raising taxes.

During his conference call, Cuomo repeated his attacks, and said the whole state will suffer because high - income taxpayers — who provide 40 percent of state revenues — will be driven to lower - tax states like Florida.

The governor said the state could gain over $ 1 billion in tax revenue from the change, and the bill is backed by left - leaning and progressive groups.

Cuomo already agreed to raise taxes on the wealthy back in December to close the rest of the gap, but he says «there are no new or increased fees or taxes» in the budget, no one shot revenue raisers, and in a state long known for complicated budget tricks, he says there are no «surprises» in his spending plan.

Proponents argue it would boost New York's natural gas supply to help keep energy costs down while creating jobs and generating tax revenue, while opponents, who rallied this month ahead of the decision, say it would increase fossil - fuel use, harm sensitive ecosystems and put the state at inordinate risk of dangerous methane leaks.

«The worse the news is on deductibility between now and the end of 2017, the more likely it may be that the state's revenues, taxes temporarily recover,» he said.

Gov. Andrew Cuomo this week continued his simmering disagreement with Senate Republicans over tax and fee increases in the budget, saying that without the revenue, the state would have to cut back on health care and school spending.

The state may need to find more revenue or cut spending if a Republican tax plan as written that ends or limits the deductability of state and local taxes is approved in Congress, Gov. Andrew Cuomo said on Wednesday in a conference call.

Local mayors and county executives across the state, including Albany Mayor Jerry Jennings, say they back the amendment because host communities will receive millions of dollars in revenue from the gambling centers for tax relief.

Howie Hawkins, the recent Green Party candidate for Governor, said today that the state should provide property tax relief by restoring a more progressive structure of state taxation and revenue sharing with local municipalities.

The state would still have to operate an income tax system to ensure the state collects revenue on that money, he said.

Heastie said the higher taxes on millionaires would generate sufficient revenue for the state to increase funding for schools, the aging, infrastructure and other public priorities.

But she also said there are some concerns she has with his proposal, including the governor's plan to overhaul the state tax structure and shift revenue collection so it is more reliant on Payroll taxes.

«We do not cut taxes for millionaires,» Mr. Cuomo said at a Tuesday evening briefing for the news media, explaining that the loss of the tax, which is scheduled to expire this year, would cost the state about $ 4 billion in revenue.

New York State Comptroller Tom DiNapoli says he'll need to see more details and end of the calendar year state revenue figures before deciding whether the state can afford $ 2 billion in new tax cuts that Governor Cuomo is likely to proState Comptroller Tom DiNapoli says he'll need to see more details and end of the calendar year state revenue figures before deciding whether the state can afford $ 2 billion in new tax cuts that Governor Cuomo is likely to prostate revenue figures before deciding whether the state can afford $ 2 billion in new tax cuts that Governor Cuomo is likely to prostate can afford $ 2 billion in new tax cuts that Governor Cuomo is likely to propose.

The lawyer, who handled much of Glenwood's political work, said the company hoped to obstruct the passage of campaign finance reform laws, see the controversial 421a tax abatement renewed, obtain a favorable tax cap on revenue from apartment buildings and to prevent Democrats from taking control of the State Senate and giving control of the New York City rent laws from Albany to the City Council — which Mr. Dorego compared to «an atomic bomb.»

He said MMA would have a positive economic impact in the state — a study commissioned by the UFC predicted it would generate $ 137 million in economic activity around the state from training by 2019, and could bring in more than $ 5 million in tax revenue — and has always been talked about in the context of the state budget.

He is imposing more cuts in local government services by tying the state tax relief programs to municipal compliance with the 2 percent property tax cap while simultaneously freezing revenue - sharing aid to municipalities at 75 percent below its 1980s level,» Hawkins said.

The lawmakers said the platforms allow low - cost services that have led to growth in many technology - based businesses «that have created much - needed jobs, tax revenue, and economic development opportunities throughout our state.»

He says he's holding the line on state agency spending, and he's eyeing additional revenues by taxing health insurance plans, and deferring corporate tax credits.

Additionally the state is expecting an increase in income tax withholding revenues, said Chris McClure, a spokesman for the Office of Policy and Management.

«It is also essential that the Governor and New York business, labor and civic leaders work with President Bush, the New York Congressional delegation, and the leaders of the U. S. House and Senate to secure direct federal assistance for the tax revenue that the state is losing as a direct result of the September 11 attacks,» said Mauro.

Senate Republican Majority Leader John Flanagan said he has some reservations about the idea and whether it could be used as a back doorway for the state to increase taxes and generate more revenue to fill the over $ 4 billion budget deficit.

He said changes in the state tax laws also affected revenue collections.

Hiking taxes, he said, could lead to a further population exodus from the state, which would lead to less revenue.