Louis Vlahos, of Rivkin Radler LLP, has made available for download his article, New York Is Poised For Some Significant Tax Increases, published in JDSUPRA. The abstract is as follows:
Are the rich making enough of a contribution to society? Are they bearing their fair share of taxes? Many New York legislators don’t think so.
Following the elections of November 2020, the State’s Democratic party secured a veto-proof supermajority not only in the Assembly, but also in the Senate. This development was significant because, until then, the State’s chief executive, Governor Cuomo – ironically, also a Democrat – had been the major obstacle standing in the way of tax increases on the State’s businesses and on its wealthier residents.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.