Sentences with phrase «statewide payroll tax»

He also called for the Empire State to lead efforts to «repeal and replace» the legislation and said the state was in the preliminary stages of restructuring the current tax code, researching a shift from an income tax system to statewide payroll tax system.

The governor also said he may restructure the state's tax plan to rely less on the income tax by introducing a new statewide payroll tax.

The Department of Taxation and Finance released a report providing an exhaustive menu of options for a potential statewide payroll tax in New York, but it may be a month before Gov. Andrew Cuomo's administration can settle on a preferred plan.

A possible statewide payroll tax as envisioned by Governor Andrew Cuomo could face a key roadblock in the state Senate, where Republicans say they are opposed.

On Thursday, they expressed no shortage of concerns over another plan the governor is eyeing: lowering the salaries of hundreds of thousands of residents, or more, in order to help employers fund a shift in state revenue collections to a new statewide payroll tax.

Senate Majority Leader John Flanagan on Tuesday signaled his conference was opposed to the adoption of a statewide payroll tax, a move Gov. Andrew Cuomo last week suggested was a potential way of working around the $ 10,000 cap on state and local tax deductions contained in the federal tax law.

One idea would call for a statewide payroll tax, but there are a variety of ways the Cuomo administration outlined to make that happen.

Cuomo wants to create a statewide payroll tax that would eventually replace the personal income tax while also making changes to charitable deductions.

But that could change, as Gov. Andrew Cuomo plans to replace that tax with a statewide payroll tax.

The report released earlier in the afternoon presents a menu of potential options for the creation of a statewide payroll tax that could either replace or exist alongside the current personal income tax.

«We are developing a plan to restructure our tax code, to reduce reliance on our current income tax system,» Cuomo said, «and adopt a statewide payroll tax system.»

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.

As expected, one idea calls for a statewide payroll tax.

That's on shaky legal ground, say experts, as is his trial balloon to reduce reliance on the state's income tax in favor of a statewide payroll tax on employers.

In addition to the charitable fund idea, he called Gov. Andrew Cuomo's proposal to establish a statewide payroll tax system «quite compelling.»

In addition, snatching any of the federal tax break now promised to corporations while adding the burden of a statewide payroll tax could be opposed by companies the state is trying to keep in New York and help grow.

One idea would call for a statewide payroll tax.

The last step, he explained, is developing a plan to restructure the state's tax code to reduce New York's reliance on its current income tax system and establish a statewide payroll tax system.