21
Apr
On Saturday, April 9, 2022, New York Governor Kathy Hochul enacted the State’s 2022-2023 budget. New York, like most states, is swimming in a cash surplus because of favorable tax collections and federal COVID relief, so this year’s enacted budget doesn’t bring any tax increases. Instead, it provides for tax relief in many areas, including property tax relief. The following are some of the budget provisions affecting New York State and city income taxes:
Middle Class Tax Cuts
Tax cuts on middle...