N.Y. SALT Cap Fix Tucked Into Budget Delivers Broader Tax Break

Thousands of additional New York businesses may now be able to seize on a lucrative tax break after policy makers agreed to make a technical fix as part of a $220 billion budget deal signed into law by Gov. Kathy Hochul.

Tucked inside the largest-ever state spending plan, which promises a little less pain at the pump and help for working parents, is also an adjustment to the state and local tax law that will now allow more New York residents to receive the full benefit of a SALT cap workaround passed last year.

“The limitation was ...