In his 2018 Executive Budget Address, Governor Cuomo announced New York State will launch a study examining the plausibility of legalizing marijuana. Cuomo has hinted he might propose a payroll tax to replace or build on the state's income tax, a move that would require the employer to also pay a portion.
"This shift, while dramatic, would in many ways thwart what the federal government was trying to do on loss of deductibility", said Cuomo.
Falling state revenues over the past few months mostly can be pinned on two factors, the comptroller said. New Jersey may legalize it.
While details on the panel were scarce, Cuomo said it would include representatives of State Police to get the "facts" of marijuana legalization. But it also limited the deductions that individuals can take for state and local taxes - including income and property levies - to $10,000. Under the new system, that $5 would be paid by your employer. Mental health has gained public prominence as a vital and complex aspect of our health care, yet many entities, operating under an exemption initially meant to be temporary, continue to employ unlicensed employees - individuals who have not gone through the stringent education, experience, and examination requirements as licensed clinical social workers have - to perform these services.
"There's another concept, and that is cut spending and cut taxes", DeFrancisco said.
"We're doing everything we can to thwart the effects of the federal plan", the governor said.
But the idea of a new payroll tax may not sit well with all businesses.
Fish said employees wouldn't see a great change in the components of their pay stubs - just a removal of the state income tax line and a smaller wage. And your employer's costs would still be $100 but your company could deduct the $5, since the payroll tax is a deductible employer expense.
Rohingya repatriation timeline set
Bangladesh has also expressed their interest that Myanmar would ensure the Rohingyas do not enter the country again. He ruled out Myanmar's stated deadline of next week for starting Rohingya repatriation as "not possible".
Schools make the call early: Another snow day Wednesday
SMITH COUNTY SCHOOL DISTRICT: DECA students, district competition has been cancelled for Wednesday, January 17th. As of 6:30 a.m., no schools in the New Orleans metro area had announced weather-related closures for Tuesday.
1 dead, 14 injured after casino shuttle boat carrying 50 catches fire
When the fire broke out and the boat was abandoned, news reports say as many as 40 people entered the water immediately. The Pasco Sheriff's office reported that people on the the boat had to be rescued from the water.
He also would close the carried interest loophole, which benefits hedge funds, but only if the neighboring states of New Jersey and CT also change their laws.
"It's very complex", he said, and only getting moreso. And it fails to make any significant changes in the way the state distributes school aid to ensure the neediest school districts get the funding they need.
Gov. Andrew M. Cuomo unveiled a $168.2 billion budget proposal that holds back increased spending but proposes a number of "revenue raisers" to address a $4.4 billion budget deficit.
Assemb. Christine Pellegrino (D-West Islip) said she was "encouraged" by Cuomo's plan. He's anxious, rightly, that the cap will prompt high-income New Yorkers, sick of having to bear the cost of state and local taxes, to flee.
Local legislators were not impressed by the plan.
Sen. Elaine Phillips (R-Flower Hill) said her office has conducted a survey in her district and her constituents don't appear to support recreational marijuana use.
Cuomo is proposing a $769 million increase for school aid, about half of the increase schools received a year ago. Republican Assemblymember Gary Finch in a statement says the federal government didn't create New York's $4.4 billion deficit.