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Sales Tax

Politics
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal
How Does $500 'Inflation Refund' Check Sound? Here's Who Qualifies Under Hochul's Proposal New Yorkers could soon see some relief from rising costs. Around 8.6 million taxpayers statewide could stand to benefit from a historic $3 billion in “inflation refund” checks that were proposed by Gov. Kathy Hochul during a speech in the Bronx on Monday, Dec. 9. If approved by lawmakers, the initiative would deliver $300 checks to single taxpayers earning up to $150,000 annually and $500 to joint filers with incomes up to $300,000. The refunds would be funded by surplus sales tax revenue generated during the recent period of high inflations. Hochul said the one-time payments would provide…

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by Michael Mashburn
News
Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley County: Here's How Long Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley County: Here's How Long
Clothing Under $110 Now Exempt From Sales Tax In This Hudson Valley County: Here's How Long Those who purchase any clothing or footwear cheaper than $110 in one Hudson Valley county will not have to pay sales tax thanks to a new piece of legislation.  Effective on Friday, March 1, clothing and footwear under $110 purchased in Putnam County will be exempt from sales tax for two years, officials announced.  The exemption comes thanks to a piece of legislation signed into law by Putnam County Executive Kevin Byrne in 2023. The legislation was passed unanimously by the County Legislature in November as part of a series of initiatives in the 2024 County Budget. …

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by Ben Crnic
News
This Hudson Valley County Capping Sales Tax On Gasoline This Hudson Valley County Capping Sales Tax On Gasoline
This Hudson Valley County Capping Sales Tax On Gasoline Some financial relief is coming to Hudson Valley motorists as elected officials in one county announce a cap on gasoline sales tax in the region. Rockland County Executive Ed Day and County Legislature Chairman Jay Hood Jr. announced that local sales tax on gasoline will be capped at $2 per gallon amid the record spike in prices at the pump. According to officials, the change means sales tax will only be applied to the first $2 of a gasoline purchase, as opposed to the full gas price. The gasoline tax cap will begin on Wednesday, June 1, and be in effect through Feb. 28, 2023. Furth…

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by Zak Failla
Business
Here's Why Netflix Bills Are Getting Higher For NYers Here's Why Netflix Bills Are Getting Higher For NYers
Here's Why Netflix Bills Are Getting Higher For NYers Netflix subscribers in New York can expect to see an increase in their upcoming bills. The video streaming giant won’t be raising its monthly fee for all users, but it will begin adding in state and local sales tax for New Yorkers for the first time beginning this month when monthly bills are applied on Wednesday, Dec. 15. The change comes as Netflix prepares to add games to their package, so while streaming services are exempt from those taxes, games are not, prompting the price hike. Netflix’s standard subscription plan costs $13.99 monthly. The state sales tax is 4 percent, and most co…

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by Zak Failla
Politics
Moody's Increases Rockland's Bond Rating To A1 Moody's Increases Rockland's Bond Rating To A1
Moody's Increases Rockland's Bond Rating To A1 Despite being in the midst of a global pandemic, Moody’s Investigators Service has increased Rockland County’s bond rating. This week, Moody’s announced that Rockland’s rating has been upped from A2 to A1. According to Moody’s, the upgrade of the rating to A1 reflects the county's recently improved financial position which is being challenged with sales tax and state aid losses as a result of the COVID-19 pandemic. “We regard the coronavirus outbreak as a social risk under our ESG framework, given the substantial implications for public health and safety,” Moody’s evaluators stated. “The …

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by Zak Failla
Lifestyle
New York's No. 1 - For Highest Taxes In Nation, According To New Data New York's No. 1 - For Highest Taxes In Nation, According To New Data
New York's No. 1 - For Highest Taxes In Nation, According To New Data A brand-new study has revealed that New York and Connecticut are paying the highest taxes in the country. 24/7 Wall Street released the report reviewing the “total tax burden as a share of income on a per capita basis” to identify the states with the lowest and highest tax burden. Federal taxes were not included in the calculations. The study found that New York led the way as the highest taxed state in the country, with 12.7 percent of income going toward taxes. Connecticut was just being at 12.6 percent. The study’s methodology can be found here. Details from the report include:  N…

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by Zak Failla
Politics
Day Vetoes Amended $709M 2019 Budget Day Vetoes Amended $709M 2019 Budget
Day Vetoes Amended $709M 2019 Budget Rockland County Executive Ed Day used his line-item veto power to strike down 95 amendments totaling several million dollars to the 2019 budget. In vetoing the amended budget, which tops out at $700 million, brought to him by the Democratic majority, Day said the "ill-advised amendments" would have jeopardized the county's plan to dig itself out of a fiscal hole.  “The majority’s amended budget would have been a return to the days of speculative revenue, over-estimating sales tax revenue and a refusal to modernize county government,” said Day. “In short, a budget like theirs could lead…

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by Kathy Reakes