Business in New York Being Buried by Heavy Tax Load
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.
Safety and Health Programs: Can you make your company safer?
Safety and Health Programs: Can you make your company safer? No one wants an unsafe work environment. But unsafe or hazardous spots in your environment must first be reported before they can be corrected. That takes cooperation from all employees, including those reluctant to blow the whistle. In 2004, more than 6 million work-related illnesses…
Employee Hiring Decisions
Employee Hiring Decisions Making Better Hiring Decisions One of the most powerful ways a company can improve its profitability is to attract and retain quality employees. In the “Simple Tools to Help Make Better Hiring Decisions” session of The Work Truck Show, consultant Fred Yetka offered guaranteed ways to reduce turnover — and the wasted…
No Longer Just Black and White
No Longer Just Black and White By Myron Curry President of BusinessTrainingMedia.com Diversity in the workplace used to hinge upon the level of responsibility, pay, and respect that one could receive based upon the color of skin and ethnicity. But, these days, diversity in the workplace has become much more than that. Most CEO’s and…
Four Key Diversity Recruitment & Retention Strategies
Four Key Diversity Recruitment & Retention Strategies From BusinessTrainingMedia.com Workforce Article Library 1) Recruitment and retention strategy. Most employers find that it is generally easier to recruit people than it is to retain them. Unless organizations create a climate that welcomes and is hospitable to those who are in some way different from the existing…