Employers will have the option of a new state payroll tax under the state budget passed last week.
The payroll tax, called the “employer compensation expense program,” is among a series of changes designed to prevent New Yorkers from seeing their taxes increase as a result of the federal tax reform.
Business organization leaders, such as Mike Durant, the state director for the National Federation of Independent Business, have said their members aren’t particularly interested in the payroll tax option.
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Read the full article at: https://www.cnbc.com/2018/04/02/new-york-lawmakers-restructure-tax-code-but-small-businesses-are-skeptical.html