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| Re: Cuomo Reluctant To Dig Deep For New Hudson Rail Tunnel (1362977) | |||
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Re: Cuomo Reluctant To Dig Deep For New Hudson Rail Tunnel |
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Posted by Stephen Bauman on Mon Aug 17 14:15:46 2015, in response to Re: Cuomo Reluctant To Dig Deep For New Hudson Rail Tunnel, posted by Mr. Night Train Show on Mon Aug 17 13:03:32 2015. I am a New Jersey commuter who earns a salary in New York City. I pay a deduction to New York State. The State collects on behalf of New York City so NYC is getting some taxes from my salary. I don't know the exact percentages but when I do my taxes NYC is calculated with NYS.No sir. As a non-resident of NYS, you filed non-resident form IT-203. New York City and Yonkers have additional income taxes that apply to their residents. If you look at your last IT-203, you will see the entry on line 58 "Total New York City and Yonkers taxes (add lines 52a, 53, and 54)" was zero or left blank. You paid NYS income taxes on the portion of your income that was earned in NY State. You paid no additional income taxes to NY City like all New York City residents do. There used to be a commuter tax for non-NYC residents who worked in NYC. It was about 10% of what NYC residents paid. Even this dime on the dollar was too much for the commuters to bear. NJ also felt that it was too much a burden, when NYS re-imposed this tax on only NJ residents. Here's how the NJ Senate reacted at that time. NJ successfully fought that tax. The result is that NYC derives no identifiable income stream from NJ commuters. NJ loses income tax revenue from NJ residents who work in NYC. Their NYS income taxes are deductible from their NJ income tax. The NJ commuters don't pay extra income tax for working in NYC. NJ is left with lower income tax collections because of NJ residents working in NYC. This may well explain Gov. Christie's reluctance to shell out NJ money in the expectation of getting no return in the future. NYS is the only entity that has an income stream that is traceable to NJ residents working in NYC. However, that income stream is tiny compared to both NYS' total budget and the expense involved in building new tunnels. From a purely business (dollars and cents) perspective, building two new Hudson River Tunnels is not in the interest of NJ, NYS nor NYC. |
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