By Vivian Wang
ALBANY — If Gov. Andrew M. Cuomo’s warnings about the apocalyptic impact of the new federal tax plan had not succeeded in alarming New Yorkers, state lawmakers last week gave it their best shot.
They
described a fresh financial catastrophe to accompany the rewrite from
Washington — but this one, they said, would come from within.
The
issue is something called conformity, or the widespread linkage between
state and federal tax codes. Conformity is designed to make filing
easier for taxpayers and enforcement easier for revenue agencies, said
Robert Zahradnik, who studies state fiscal policy at the Pew Charitable
Trusts.
Of
the 41 states that levy a personal income tax, nearly all of them
structure at least parts of their tax codes around the federal one, Mr.
Zahradnik said.
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Source: The New York Times (via Empire Report New York)
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