[Tibaveriafark]

It seems that New York State is borrowing a page from President Obama’s playbook, and apparently the Tea Party made little or no headway there affecting this Tax Overhaul.


Albany Tax Deal to Raise Rate for Highest Earners

By THOMAS KAPLAN

ALBANY — Gov. Andrew M. Cuomo and legislative leaders announced on Tuesday that they had reached an agreement to overhaul New York State’s income tax, creating a higher tax bracket for the highest-income residents and reducing the tax rate for millions of middle-class residents.
The deal came together just 25 days before the expiration of the state’s so-called millionaires’ tax — actually a surcharge on all individuals earning over $200,000 a year. The proposed tax overhaul would result in most residents’ being taxed next year at a lower rate than this year.


You can read more here: Cuomo and Legislative Leaders Agree on Tax Deal - NYTimes.com

Proposed Changes to State Income Tax Rates - Graphic - NYTimes.com