De Blasio administration plans corporate tax reforms

Sally Goldenberg

The de Blasio administration, viewed skeptically in the early going by city business leaders for its tough talk on the city's high earners, now plans to attend to one of their top requests by updating business tax laws.

City finance commissioner Jacques Jiha made a quick reference to the idea during his lengthy testimony before the City Council's finance committee last week.

"The state has reformed its business tax laws by merging the state's general and banking corporate taxes. We must do the same," Jiha said. "The lack of conformity between the city and the state will create compliance issues for businesses, as well as a burdensome administrative process for taxpayers."

Jiha also called for the city to modernize its tax structure for utilities.

http://www.capitalnewyork.com/article/city-hall/2014/06/8547034/de-blasio-administration-plans-corporate-tax-reforms?top-featured-3