taxes

Keith Srakocic / AP

U.S. Representatives Tom Suozzi and Peter King of Long Island have introduced legislation to restore state and local tax deductions that were capped under the Republican 2017 tax reform bill.

Mike Groll / AP

The leader of the State Senate says she does not think there will be new broad-based taxes on the wealthy to close the state's multibillion-dollar budget shortfall. Senator Andrea Stewart-Cousins' remarks come as a liberal leaning think tank issues a report that finds New York has the highest level of income inequality in the nation.

Hans Pennink / AP

With New York State facing a $6 billion budget deficit, the speaker of the State Assembly said it might be time to impose new taxes on the rich. 

Mark Lennihan / AP

Connecticut, New York and two other states filed an appeal challenging a U.S. district court judge’s dismissal of their lawsuit against the Trump administration. The lawsuit claims that the $10,000 cap on federal deductions for state and local property taxes is unfair. 

Craig Adderley from Pexels

Legislation introduced in New York this week expands tax exemptions for small businesses.

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