As Congress gets closer to possibly another economic recovery legislation, and the clamor to date has been for as much a $1 trillion in relief to state and local government, we’ve now entered FY 2021 budget. With tax receipts significantly reduced, every state and local government is facing some tough budget decisions. A quick look…
Read More »In his 2020 State of the State Address this week, New York Governor Andrew Cuomo called for employers in the Empire State to provide paid sick leave benefits for employees. The Governor’s plan would mandate that employers of 5 to 99 workers provide 5 days of paid sick leave annually and those with 100 or…
Read More »A couple of weeks ago, the Jersey City Council unanimously approved a new 1% payroll tax on businesses operating within the city. The tax, which will be paid by the businesses and not by employees, is being earmarked to address a financial “crisis” within the Jersey City school district. The “crisis” was created when the…
Read More »Although at press time, there were still few details on the formal budget agreement in New York state, we do know that the final document includes an increase in the minimum wage to $15 an hour and a new paid sick leave mandate. Business interests in New York had pushed back vigorously against Governor Cuomo’s…
Read More »The Internal Revenue Service (IRS) released statistics on the Department’s 2015 enforcement activities last week and the results show an 8% increase in the number of business returns examined. The IRS has seen its budget cut by $900 million in the aggregate over the past five years and is making its pitch to Congress for…
Read More »On the flip side of the Cuomo push for increasing minimum wages, he is expected to propose some $300 million in business tax cuts when he gives his budget and State of the State address this week in Albany. Those small businessmen and women who pay their taxes at the personal income tax rate will…
Read More »Florida Governor Rick Scott is looking to push through additional tax cuts for businesses in the Sunshine State as well. Scott has long let it be known that he wants additional cuts made to state taxes and has even filed legislation to do away with the state income tax. Now, he’s proposed a broad array…
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