No surprise here: New taxes, fees Gov. Cuomo’s solution to budget deficit woes

New York Governor Andrew Cuomo is under scrutiny by lawmakers in Albany, both Republican and Democrat, in the wake of his proposed 2018 budget which was released this past Tuesday.

The Governor’s proposed budget, totaling $168 billion dollars, was highlighted by an estimated $4 billion deficit and $586 million in new tax or fee revenue that he is relying on to bridge the gap.

“You can’t possibly get anywhere near where you want to be on education and health care unless you raise revenues,” said Governor Cuomo.

However, Republicans throughout the State are not sold. “If anything, this is a moment that provides us a chance at self-reflection to say we are a high-tax state. We need to do something now about it more than ever to protect our taxpayers,” said Sen. Robert Ortt.

One of the Governor’s proposals includes imposing a broader internet sales tax which would apply to large online marketplace companies such as eBay and Amazon. Under his plan, the online companies would be required to collect sales tax on any sale to a New York resident regardless of where the seller is based.

The full list of other taxes and fees proposed by Governor Cuomo include:

A full Increase the Vending Machine Sales Tax Exemption

Allow the Tax Department to Appeal Tax Appeals Tribunal Decisions

Clarify New York Residency Requirements for Tax Purposes

Impose an Internet Fairness Conformity Tax

Discontinue the Energy Services Sales Tax Exemption

Provide for Expedited Processing of Child Care Tax Credit Payments

Extend the Statute of Limitations on Amended Tax Returns

Allow Warrantless Tax Debt to be Assessed Against Unclaimed Funds

Improve Cigar Tax Enforcement

Defer Business Related Tax?Credit Claims

Impose a Health Tax on Vapor Products

Establish an Opioid Epidemic Surcharge

Simplify Video Lottery Gaming (VLG) Rate and Make Other Provisions

Impose a Vehicle Safety Inspection Fee

Modernize Highway Right of Way Fees

Impose a Healthcare Insurance Windfall Profit Fee


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