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15
Jan
Revenue-neutral reform will streamline City and State taxes by merging bank tax into new corporate tax—eliminating burdensome administration and improving compliance, while broadening the city’s tax base
NEW YORK—Mayor Bill de Blasio proposed today a major reform of New York City’s corporate tax structure, modernizing an outdated system, providing vital tax relief to the city’s small businesses and local manufacturers, and streamlining City and State corporate tax codes.
The revenue-neutral reforms will be retroactive to January 1, 2015.
Certain New York City...