NYC Tax Cut is a $190 Million Boon for Residents

Based on tremendous fiscal gains, a tax cut recommended by Mayor Rudolph Guiliani, and passed by a New York City Council committee, is expected to save residents $190 million.

Although it still needs to be passed by the full Council--and it looks as if it will--the city tax cut is expected to coincide with a drop in the New York State income tax, bringing with it a savings of $327 for a family with two children earning $100,000, and $73 for a single person earning $25,000.

The philosophy on the part of the Council committee was to return money to the taxpayers because of the recovery occurring in the city.

If passed, the new, lower tax becomes effective Jan. 1, 2001.

Upcoming CPE Webinars

Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.