Last Wednesday, the Empire Center and Tax Foundation released five tax policy priorities that will make New York more business-friendly and reduce the high tax burden that all New Yorkers face.

 

The groups recommend:

 

–       Phasing out the high earner income tax surcharge, to reduce the state’s top tax rate from 8.82% to 6.85% by 2017;

–       Making the December 2011 middle class tax cuts permanent;

–       Indexing the state personal income tax code to inflation;

–       Increasing the state Estate Tax exemption to the federal level of $5.25 million; and

–       Making the state’s 2% real property tax cap permanent.

 

The Empire Center and Tax Foundation have put forward some very good recommendations that should be part of the tax relief conversation in 2014.