Daily Tax Report: State

New York Governor Announces 2020 Agenda, Includes Lowering Small Business, Middle Class Income Tax Rates

Jan. 9, 2020, 5:00 AM

The New York Governor Jan. 8 announced his agenda in his 2020 State of the State address. The governor’s 2020 agenda includes plans relating to corporate income, individual income, trust income, property, sales and use, and excise taxes. Highlights of the agenda include: 1) lowering corporate income tax rates for small businesses and personal income tax rates for the middle-class; 2) requiring public officials to disclose their tax returns; 3) fighting for the full deductibility of state and local taxes; 4) expanding the Empire Child tax credit; and 5) creating a post-secondary institution license under the Alcoholic Beverage Control Law....

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