New York | New York governor offers ‘protection’ from new federal tax law through donations to state government
by Emily Belz
Posted 8/02/18, 09:06 am
A New York moment:
A lot of attention up here in the Northeast has focused on the (likely frivolous) lawsuit that New York, New Jersey, Connecticut, and Maryland recently filed against the new federal tax law. Although the federal tax reform passed last year reduces New York’s federal tax burden overall, it sets a $10,000 cap on state and local tax deductions.