Business in New York Being Buried by Heavy Tax Load

New,York,City,Panorama,Skyline,At,Sunrise.,Manhattan,Office,Buildings

New York, New York: It’s the town so nice they named it twice. But when it comes to taxes in one of the world’s greatest states, things aren’t so nice. That’s because New York is one of the worst places to live if you don’t want to pay a lot of taxes.

 New York has some of the highest tax rates on income, whether it’s personal or business, in the country. The high taxes don’t stop there, either. New York also has some of the highest property taxes, as well. In fact, according to the Tax Foundation New York has the nation’s highest tax burden and the second highest all-in top tax income.

The bad news doesn’t stop there for New Yorkers, as the state is also has the highest local and state corporate tax rate in the country, as well as the country’s seventh highest property tax figure. New York also has the fifth highest workers’ compensation cost and to top it all off New York even gets you in the afterlife with its death tax.

The effects of these taxes are notable. Thanks to its never-ending tax burden, New York has lost more money in income from people and businesses moving out of the state than any other state in America. The numbers are staggering. Between 1993 and 2010, New York lost more than $67 billion in yearly income to other states, along with more than a million taxpayers over that same time period.

The bottom line, if you live, work or own a business in New York, then you won’t be getting any favors at tax time.

Posted in ,
TechCrunch Disrupt SF 2016- Rolik

TechCrunch Disrupt SF 2016- Rolik

TechCrunch Disrupt SF 2016- Rolik Alan: I’m here today with Sergei Gritsenko and he’s the co-founder of Rolik. Sergei, welcome to today’s show. Sergei: Thank you. Nice to meet you as well. Alan: So Sergei, tell me about your company. You currently are doing the world’s first digital video ad in the market place. Sergei:…

TechCrunch Disrupt SF 2016- SAP Hybris

TechCrunch Disrupt SF 2016- SAP Hybris

TechCrunch Disrupt SF 2016- SAP Hybris Alan: Hi, this is Alan Olsen, and I’m here today with Samuel Schneider and he is with SAP Hybrid labs. Samuel, welcome to today’s show. Samuel: Hi, thanks. Yeah that was Hybris and Hybris is an SAP company and we are here offering our API market place. Alan: So…

TechCrunch Disrupt 2016- Spherica

TechCrunch Disrupt 2016- Spherica

TechCrunch Disrupt 2016- Spherica Alan: Hi, this is Alan Olsen. I’m here at TechCrunch and I’m here with Alina Mikhaleva she is the managing partner of a company called Spherica. Welcome to today’s show. Alina: Thank you so much. Thank you for having us. Alan: And also, this is Nick back here and Nick is…

The Biggest Challenge Entrepreneurs Face

The Biggest Challenge Entrepreneurs Face

The Biggest Challenge Entrepreneurs Face Alan: Running a company is never easy and you know, this show at American Dreams talks about pathways in life. And I had a guest come on once and say “In life there is no path, but it’s really the path is created by the series of choices that we…