Break on Sales Tax in New York For Clothing & Footwear

By
Real Estate Agent with Shahar Management
https://activerain.com/droplet/yvy

Just in time for Spring, New Yorkers are getting a much-needed tax break. As of April 1st, we’ll no sales tax reductionlonger have to pay the four percent state portion of the sales tax on clothing and footwear purchases up to $110 per item. This will save consumers an estimated $210 million over the year.

Governor Cuomo’s plan, which took effect January 1st, included a new personal income tax rate that will save middle class New Yorkers over $690 million annually. Under the new rate structure, middle class New Yorkers are now paying the lowest tax rates in 58 years. This means that the average New Yorker will save between $300 and $400 in income taxes for 2012.

The Governor and the Legislature's plan also eliminated the MTA payroll tax for over 700,000 taxpayers who own small businesses or make less than $50,000 a year in self-employed income. This will save New Yorkers an additional $250 million a year.

Combined, the Governor’s tax cuts will save middle class New Yorkers and small businesses $900 million this year. 

Click here to learn more about the Governor’s Fair Tax Plan.

Posted by

 

 

 

SHAHAR MANAGEMENT

 

Debbie Walsh, GRI, CNE, CHMS, REM | Office (845) 283-3036 |

website www.viewhudsonvalleyhome.com | search for homes

If you are Buying, Selling or Relocating to the Hudson Valley area and need help from a professional REALTOR®, I would be happy to assist you! Please visit my Hudson Valley website for property searches and to sign up for free listing alerts and other information.

 

facebook badge  twitter badge  LinkedIn badge  RSS badge  google badge

                                                                   pinterest

 

 

WINNER 2015, 2016 & 2017 Hudson
Valley Five Star Real Estate Agent



Top Agent Magazine Honoree 2015 & 2016

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
New York Orange County Goshen
Groups:
Almost Anything Goes
HyperLocal Neighborhood and Community Posts
Hudson Valley
Hyper-Local
I Love NY
Tags:
sales tax

Spam prevention
Show All Comments
Rainmaker
5,046,629
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debra,

Wow, how nice.  Our tax is SB County is 7 1/2 percent, and 8 1/2 percent in Los Angeles County.  Could we get our governor to talk to Mr. Cuomo?  A

Apr 07, 2012 07:37 AM #1
Rainmaker
915,400
Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

Alex- I am on it!  LOL

Apr 08, 2012 05:18 AM #2
Ambassador
942,651
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

That is great!  I like to see people being able to save money....no matter how it gets done.  This was really great information, Deb.

Apr 20, 2012 05:12 AM #3
Ambassador
1,246,975
Kristin Hamilton CA Realtor
Sun Lakes Realty - Banning, CA
(909) 557-6966- Specialize 55+ Communties Banning

Hi Debra,

This is such a wonderful idea your Governor put into action. Here in California, our state is so broke and they are laying off govt employees, teachers, and just thinking of ways to tax us more and more. I guess most of the states are in the same boat but you must have a very progressive governor.

Happy Earth Day 2012 weekend.

Apr 20, 2012 12:41 PM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
915,400

Debbie Walsh

Hudson Valley NY Real Estate 845.283-3036
How May I Help You Today?
*
*
*
*

Additional Information