There is a three-year Statute of Limitations in New York state Tax Law for additional tax assessments to be made by the Tax Department, unless the taxpayer provides a written consent to extend the limitation period. However, the Statute of Limitations does not apply if the taxpayer failed to: file a return, report changes made by the Internal Revenue Service (IRS) to a federal tax return or intentionally filed a return containing false information. A taxpayer is required to report federal changes to income, estate and corporate taxes to the state tax Department within 90 days from the final determination of the change, stating whether the change is correct or not.

“School Tax Relief” (STAR) Program
New York state, wherein property taxes are only applied to real property, grants local governments and public school districts the ability to reduce the property taxes paid by qualifying senior citizens. Senior citizens 65 years old or older and who are within the income limitation can have the assessed value of [...]

Part II

Property Taxes
Property taxes are the main source of revenue for local governments (cities, townships, counties, school districts and other tax-assessing jurisdictions), not states. The state specifies the maximum legal tax rate that can be charged against the partial or full appraised market value of the property (land and buildings), while a local assessor determines the market value.

More important than just nominal income tax rates are the total tax burdens in each state. This is especially true for retirees, as their incomes may be fixed or with limited annual increases.

Article 41 of New York state’s Tax Law created a Taxpayers’ Bill of Rights to ensure taxpayers clearly understand their rights and responsibilities under the tax codes, as well as the responsibilities of the Tax Department. This Bill of Rights aims to develop an equitable and efficient tax regime by utilizing non-technical language to explain [...]

Inheritance and Estate Taxes
New York state has no inheritance tax, but there is a state-level estate tax.
There are specific conditions to be met in requiring estates to file New York State Estate Tax Returns, though these requirements vary by the decedent’s date of death.

The Empire Zone program provides extensive financial incentives and community-based workforce improvement to encourage economic development in the most distressed areas of New York State. Over the past five years, the program has been extended across the state, resulting in the expansion of existing businesses and job creation, as well as fostering the establishment of [...]

Estimated deficits of $200 billion over the next three years face U.S. states according to the National Governors Association. Because many states are required to eliminate funding gaps by their fiscal year end, many states are revising their tax rates and making other changes to their tax codes in efforts to increase revenues.
The Tax Foundation, [...]

On May 6, the New York Senate passed Senate bill S5451 intended to improve the financial stability and accountability of the Metropolitan Transportation Authority (MTA). The bill will generate an estimated $2.9 billion in revenue over two-years to close the MTA’s more than $2 billion operating deficit and cover some capital costs. The bill also [...]

Controversial changes in the recently passed 2009-10 New York state budget is intended to raise roughly $4 billion to address a severe budget crisis.
According to a press release from the Empire Center for New York Sate Policy, a project of the Manhattan Institute for Policy Research under the Boston-based Beacon Hill Institute at Suffolk University, [...]