New York State
Cuomo Reins in Compensation
In a May 16 announcement, Governor Andrew Cuomo announced the release of proposed regulations to limit spending for administrative costs and executive compensation at state-funded not-for-profit and for-profit service providers.
Nearly All NYS School Budgets Pass
New York state voters approved 96.4 percent of school district budgets on May 15, according to a statement from the New York State School Boards Association (NYSSBA), a membership organization of public school boards.
Higher Minimum Wage Favored in NYS
An overwhelming number of New Yorkers want to see the New York state minimum wage raised from $7.25 to $8.50, according to a May 14 Siena Research Institute poll. Support crosses party and geographic lines.
New Deputy Comptroller for Diversity
Nancy R. Hernandez has been appointed Deputy Comptroller for Diversity Programs in the New York State Comptroller's Office, effective April 26. Previously, she was a councilwoman and deputy supervisor for the Town of Colonie.
DiNapoli Puts State Cash in NYS Biz
In a May 9 announcement, New York State Comptroller Thomas P. DiNapoli touted the New York State Common Retirement Fund's In-State Private Equity Program. Through this initiative, the state partners with investment managers "who invest in companies in New York state and consistently deliver top-quartile returns," according to the program's website.
NYS Sets Quarterly Tax Interest Rates
The state Department of Taxation and Finance has published interest rates for refunds and for late payments and assessments for the quarter running from July 1 through Sept. 30.
NYS Makes Changes in Fuel Taxes
Three New Yorkers Win Sells Award
Each year, the American Institute of CPAs grants the Elijah Watt Sells Award to those CPA candidates who obtained a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, completed testing during the previous calendar year and passed all four sections of the examination on their first attempt.
NYS Sums Up 2012 Rulemaking
At the end of April, the New York State Department of Taxation and Finance summarized its fiscal year 2012 rulemaking actions. Compared with 2011 and 2010, it was a slow year on the rulemaking front.
DiNapoli Calls for IDA Reform
In a May 1 release, State Comptroller Thomas P. DiNapoli highlighted problems with New York's Industrial Development Agencies (IDAs). He noted that in 2010 they supported 4,444 projects and provided nearly $500 million in net tax exemptions. However, he said, projects were down and cumulative job gains decreased by 22,000 from the prior year. For the second straight year "there appears to be limited correlation between higher tax exemptions and job creation," he said.
State Reconsiders Botox Tax Guidance
In March, the New York State Department of Taxation and Finance issued a memorandum clarifying situations under which Botox and related cosmetic products were taxable. But in a May 1 email, the department said: "In response to certain inquiries, the Tax Department is re-examining the language used in the TSB-M." The memorandum has been "withdrawn" and removed from the site.
Top NYS Polls Are Owed Money
Politicians often make headlines when they've taken money that doesn't belong to them. But now, some are being singled out because they have failed to take money that is rightfully theirs.
Former Gov. Appointed to MTA Board
Former New York Governor David Paterson has been appointed to serve on the board of the MTA, replacing the outgoing Nancy Shevell, who resigned in January, according to the New York Daily News. Paterson will serve as one of 23 members who will decide policy for New York’s multi-billion dollar public transportation system.
NYS Rent Regulation Upheld in NYC
Tax Season Not Done for NYS Businesses
April 17 has come and gone, and New Yorkers have filed their returns, or at least filed for an extension. But for many New York businesses, April 30 is another key date.
NYS and U.S. Tax Season Polls
The Sienna Research Institute and CNN/ORC International have both released tax-themed surveys as the another filing season draws to a close.
Small Biz Workshops Travel State
Governor Cuomo has launched an outreach initiative to help New Yorkers start and grow their small businesses. "This program is all about creating jobs because when small businesses do well, New York does well," said Governor Cuomo in a statement that gave more details on the program.
State Finalizes Mobility Rules
Effective April 11, the emergency regulations that implemented the state’s cross-border practice mobility law were made permanent, according to the New York State Office of the Professions.
Find State Sales Tax Rates Online
Updated at the end of March, New York state's online reference center for finding the right jurisdictions and right sales tax rates provides guidance and links for proper local tax application.
State Tax Dept. Addresses 'Stair Tax'
In a March Advisory Opinion, the Office of Counsel in the New York State Department of Taxation and Finance drew some fine lines to decide when carpentry work done in a house is subject to the state sales tax.
NYS Summarizes Tax Changes
The New York State Department of Taxation and Finance has been keeping busy this past year, with new rules and guidance on state taxes thanks to budget changes. To make these rules easier to find and apply, the department has summarized them in one publication.
Wanted: Exec. Secretary for CPA Board
The New York State Education Department has posted an advertisement for a new executive secretary for the State Board of Certified Public Accountancy. The secretary will also be responsible for certified shorthand reporting.
New NYS Deputy Comptroller Appointed
State Comptroller Thomas P. DiNapoli has appointed Robert B. Ward Deputy Comptroller of Budget & Policy Analysis, effective April 12. Most recently, Ward was the deputy director and director of fiscal studies for the Nelson A. Rockefeller Institute of Government at the University at Albany.
From NYS: Taxes You Don't Owe
We're used to taxing authorities reminding us about taxes we have to pay. But the New York State Department of Taxation and Finance is reminding taxpayers about taxes they do not have to pay. Emails have gone out to state residents who paid estimated taxes last year, explaining that in 2012, since tax rates are lower, the estimated payment due April 17 may be lower as well.
NYS Relaxes Fiduciary Payment Rule
New York used to have a requirement that estates and trusts had to use direct debit to pay any balance due on their returns. This created a problem for those estates and trusts that did not have a bank account capable of paying electronically. Many just have a broker account, and thus depend on the broker for check disbursements.
New York Passes Budget
For the first time since 1983, New York has successfully passed a budget with more than 24 hours to spare, according to the New York Times, with the Assembly, State Senate and governor all having agreed to a $132.6 billion spending plan on Friday for a fiscal year that began on Sunday.
New Sales Tax Reporting Rules
The New York State Department of Taxation and Finance has issued new reporting rules applicable only to a select group of businesses, and only to those located in New York City. The changes start with the March to May quarterly sales tax returns (due June 20), and the annual returns for sales tax years beginning March 1.
State Confirms Botox Is Taxable
If you want to look younger, that's fine, but do it on your own dime. That's the message from the New York State Department of Taxation and Finance in memorandum TSB-M-12(5)S, which provides sale tax guidance on the sales tax treatment of botulinum toxin, often sold under the trade name of Botox, and similar cosmetic products.
New York Gets a "D" on Report Card
The State Integrity Investigation, a project of the nonpartisan Center for Public Integrity, has given the Empire State low ratings on a new Corruption Risk Report Card. At least it's in good company: 16 other states also received a D or worse and no one got an "A."
Pension Report Sparks Bitter Feud
A small group of state senators calling themselves the Independent Democratic Conference (IDC) has issued a 13-page report titled Reforming the Way our Pension System Does Business: Reining in the Fees of Wall Street. Using charts and tables, the report aims to show "gross disparities between the fees we’ve paid and the performance we’ve been provided."