Saratoga.com logo
Saratoga.com logo
  • Places to Stay
  • Things To Do
  • Food & Drink
  • Events
  • Businesses
  • Travel Guides
Saratoga Business Journal
  • Home
  • New Businesses
  • Business News
  • Business Reports
  • Business Briefs
  • Business Registrations
  • Personnel Briefs
  • Contact Us
Home  »  Business News  »  Tax Reform/Fairness Commission Offers Recommendations To Governor Cuomo
Business News

Tax Reform/Fairness Commission Offers Recommendations To Governor Cuomo

Posted onDecember 8, 2013November 8, 2017

The final report of the New York State Tax
Reform and Fairness Commission was submitted
to the governor in November, outlining revenue
neutral policy options to modernize the
current tax system with the goals of increasing
its simplicity, fairness, economic competitiveness
and affordability.

The commission was charged with conducting a
comprehensive and objective review of the state’s
taxation policy, considering ways to eliminate tax
loopholes, promote administrative efficiency and
enhance tax collection and enforcement.

The report outlines five revenue-neutral
reform packages that will serve as options for
consideration.

• Modernize the sales tax while funding lowand middle-income tax relief and overall real property tax relief. The commission asserts that there are better and more progressive ways to provide tax relief to low and moderate income New Yorkers through reforms of the current sales tax exemption structure.

• Modify the estate tax to relieve the burden on middle class families and small businesses by eliminating the tax on 73 percent of New Yorkers who would be required to pay it. The commission asserts this tax is wrongly targeted at middle class taxpayers.

• Reform the state’s corporate and bank franchise taxes for the first time in decades to better reflect how businesses operate in a 21st century economy. The commission asserts that the state’s basic corporate franchise tax structure is badly outdated, unduly complex and vulnerable to aggressive tax avoidance techniques. Similarly situated taxpayers are treated differently, and in some instances the tax creates disincentives to increasing a corporation’s activities in New York. Business tax credits should be annually evaluated in a transparent way to ascertain their effectiveness.

• Review best practices of property tax administration in order to make the system fairer and more equitable for local governments, businesses and homeowners. New York’s system of property tax administration has been ranked among the lowest in the 50 states. The commission asserts that current property tax administration lacks fairness and transparency, and represents a compliance burden for businesses.

• Simplify the administration of taxes to ease compliance for businesses and individuals in New York. The Commission asserts that many aspects of the tax code are unnecessarily burdensome, antiquated, or ripe for reform.

For example, temporary vendors (e.g. Christmas tree sellers) must file sales tax returns on the same quarterly schedule as other retailers. These vendors could be allowed to file their sales tax returns immediately after their last sale. Nuisance taxes could also be repealed, such as an existing tax on limited categories of income that is currently collected from only 200 taxpayers, generating just $200,000, annually. Other potential reforms would result in eliminating hundreds of thousands of people from the tax rolls, according to the commission.

Co-Chairman H. Carl McCall said New York’s finances have improved in recent years, “but our long-term economic prosperity relies on reform of the tax code and tax relief.”

Co-Chairman Peter J. Solomon said, “Modernizing our archaic taxes to make the system more fair and equitable will be an enormous boost to New York. We hope these options will further improve our business climate and help encourage job creation.”

The report will be shared with the New York State Tax Relief Commission, co-chaired by McCall and former governor George Pataki. The Tax Relief Commission is working to help identify ways to reduce the State’s property and business taxes, and will provide recommendations for consideration in the Governor’s 2014 State of the State message.

Previous Article Donations To ‘Toys For Toga’ Campaign Will Help Kids Served By Three Charities
Next Article Skidmore College, NYSERDA Partner To Teach Businesses About Energy Efficiency
Subscribe to Our Newsletter View the Latest Virtual Edition

Categories

  • 50-Plus
  • Banking
  • Banking / Asset Managment
  • Building Trades
  • Business Briefs
  • Business News
  • Business Registrations
  • Business Reports
  • Commercial / Residential Real Estate
  • Community Services
  • Construction
  • Construction Planning
  • Corporate Tax / Business Planning
  • Cyber / Tech
  • Dining Guide
  • Economic Development
  • Economic Outlook 2016
  • Economic Outlook 2017
  • Economic Outlook 2018
  • Economic Outlook 2019
  • Economic Outlook 2020
  • Economic Outlook 2022
  • Economic Outlook 2023
  • Economic Outlook 2024
  • Economic Outlook 2025
  • Education/ Training/ Personal Development
  • Entrepreneurial Women
  • Entrepreneurship
  • Environment / Development
  • Financial Planning / Investments
  • Fitness / Nutrition
  • Health / Community Services
  • Health & Fitness
  • Health & Wellness
  • Healthcare
  • Holiday Guide
  • Holiday Shopping
  • Home / Energy
  • Home / Insurance
  • Home & Real Esate
  • Insurance / Employee Benefits
  • Insurance / Medical Services
  • Leadership Development
  • Legal / Accounting
  • Meet The Chef
  • New Businesses
  • Non-Profit
  • Office / Computer / New Media
  • Office / HR / Employment
  • Office/ Technology/ E-Commerce
  • Outlook 2021
  • Personnel Briefs
  • Retirement Planning
  • Senior Living / Retirement
  • Summer Construction
  • Uncategorized
  • Wellness
  • Women In Business
  • Workplace / Security / Legal
  • Year-End Tax Planning

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
Connect With Us

Follow, like and subscribe to Saratoga.com on social media

Account Sign In Submit An Event
Saratoga.com logo
  • Home
  • Places To Stay
  • Things To Do
  • Food & Drink
  • Events
  • Real Estate
  • Businesses
  • Guides
  • Contact Us
  • Blogs
  • Sweepstakes
  • Advertising
Visit Saratoga.com For Everything Saratoga
Full-Service Internet Marketing: Search Engine Optimization, Website Design and Development by Mannix Marketing, Inc.
Mannix Marketing, Inc. is headquartered near Saratoga Springs in Glens Falls, New York
Saratoga.com All Rights Reserved © 2025
Disclaimer & Privacy Policy / Terms of Use / Copyright Policies
[uc-privacysettings]

We strive to insure accuracy on Saratoga.com however accuracy cannot be guaranteed. Information is subject to change.
Please alert us if there is any inaccurate information here.

Having trouble using this site? Accessibility is our goal, please contact us with site improvements.