The moves by the governor of New York came after state leaders largely failed to address the worsening affordability problems in New York City and in the state. Source: New York Times
Posts published in “Tax Credits, Deductions and Exemptions”
NYC Landlords Charged with Defrauding Tax Break Program
By Gotham Rex on October 19, 2022
The charges are the first brought by a new unit in the Manhattan district attorney’s office focused on fraud and tenant harassment in the housing and the real estate industry. Source: New York Times
What to Know About Penn Station’s $7 Billion Redevelopment Plan
By Gotham Rex on July 21, 2022
The project promises to update the notorious eyesore but critics of the plan are concerned about the cost. Source: New York Times
New York’s Most Generous Tax Break Could Bite the Dust
By Gotham Rex on May 27, 2022
The State Legislature is unlikely to renew the 421a subsidy, which for decades has benefited nearly every large residential real estate project in the city. Source: New York Times
N.Y.C.’s 421a Tax Break for Housing Development Will Likely Expire
By Gotham Rex on May 26, 2022
The subsidy, known as 421a, has been used in nearly every big residential project over its 51-year history. It costs the city $1.77 billion annually in lost tax revenue. Source: New York Times
Supreme Court Won’t Hear Case on Limit to State and Local Tax Deductions
By Gotham Rex on April 18, 2022
New York and three other states had argued that the so-called SALT cap imposed as part of a sweeping tax law in 2017 infringed on their sovereignty. Source: New York Times
New York Weighs a Gas Tax Holiday, a Popular ‘Bad Idea’
By Gotham Rex on March 30, 2022
With deadlock on many major issues, a proposal to provide relief to motorists has picked up steam. Source: New York Times
N.Y. Attorney General Outlines Pattern of Possible Fraud at Trump Business
By Gotham Rex on January 19, 2022
The attorney general, Letitia James, released new details of her investigation as she argued for the need to question Donald J. Trump and two of his children under oath. Source: New York Times
Senior Trump Organization Official to Testify Before Grand Jury
By Gotham Rex on June 4, 2021
The Manhattan district attorney’s office subpoenaed Jeffrey McConney, a long-serving financial executive at the company. Source: New York Times
Legal Pressure on Trump Increases With Judge’s Order in Fraud Inquiry
By Gotham Rex on January 29, 2021
The order, answering a demand for documents by New York’s attorney general, rejected a bid to shield the records with attorney-client privilege. Source: New York Times
N.J. Approves $14 Billion in Corporate Tax Breaks in Less Than a Week
By Gotham Rex on December 21, 2020
The incentive package was pushed by Gov. Philip D. Murphy, a progressive Democrat who has railed against similar tax breaks in the past. His allies are not happy. Source: New York Times