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New Yorkers Face Higher Taxes Under Budget Deal - Tax


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In early April, New York State leaders reached an agreement for
the State s Fiscal Year 2022 budget (the Budget Act), which
ushers in significant changes to the New York Tax Law. The bulk of
those changes will impact individual taxpayers and trusts and not
impose new taxes on businesses.
1 Most important and
nine months after Governor Andrew Cuomo put out a plea for New
Yorkers to return are the Budget Act s increases to
personal income tax rates that will see some New York residents
paying ....

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