Your New York 2013 taxes may seem higher than ever, but changes may happen in the near future thanks to the proposed tax cuts set forth by Gov. Cuomo.
New York has a reputation for having a high tax rate, and it may take decades for this perception to change. Newspapers and magazines across the country have written about this perception, and this has only reinforced this feeling. TurboTax 2013 may be especially helpful for New York residents, and your 2013 taxes may be filed with confidence if you consult TurboTax 2013 as well.
Employers took notice when Cuomo announced his plan to decrease business taxes and implement tax-exempt zones for new companies. The program is referred to as START-UP NY, and the proposed tax cuts are part of a larger tax relief plan Cuomo presented during his recent State of the State address.
The Cuomo proposal includes things such as freezing property taxes, trimming estate taxes, cutting corporate franchise taxes, and eliminating the corporate income tax for Upstate New York manufacturers. The plan would also eliminate utility surcharges for businesses and establish a refundable credit regarding personal and corporate income taxes. This credit would be equivalent to twenty percent of yearly property taxes for a manufacturing firm.
There may be a limited number of businesses that feel the full impact of these proposals, but tax relief may have a broad and positive effect in other ways. A reinvented tax plan may create a friendly business environment throughout the state of New York.
Wieden & Kennedy is largely known for some of the most creative and bold works in recent times in advertising campaigns for brands like Nike and Coca Cola as well as Proctor and Gamble. Recently, in a move that was totally unforeseen, the company was chosen to handle purchasing of media for Turbo Tax a company owned by Intuit.
As announced by a spokesperson, the tax software specialist W&K is now in charge of all media buying for TurboTax a job that was initially handled by the Initiative. This is going to be a joint affair. The company’s New York office will manage purchasing, while the Portland HQ will manage the media planning aspect of this massive account. The Initiative has been unavailable for comment.
What makes this move so significant is that by and large media buying is a job that is handled by large, specialized organizations whose work includes being able to give their clients much better insights and rates considering the scale that they work on. However, with this particular move, it could be the beginning of times when scale is trumped by integration, especially with a client like TurboTax a Super Bowl advertiser. This may herald the beginning of a trend that is long talked about in the advertising world– the integration of marketing communications in terms of media and creativity.
This move by Turbo Tax was decided after an internal review process with undisclosed participants. The media and the creative reviews were done separately, but the results are what led to the move to consolidate it all.
With $1.3 trillion deficit decline in State’s Revenue, and 43 States faced with budget deficit, these proves that the United States of America is not left out in this hard economic time. As a solution to the situation, 2012 taxes, tax cuts was enacted. Unfortunately, it was tricky hence; the US resorted to slashing programs and lowering costs. Worse still, it led to increase of some taxes but still a total of eight-tax cut set forth.
2012 taxes, tax cuts stands out as a major challenge. Brooking reports show that 40 States raised taxes and consequently spending declined. Previously, taxes increased by nearly $24, translating to a cool 3.5% increase. 2012 taxes, tax cuts therefore look slightly effective in the struggle to shrink the State’s deficits. Large States like New York and California, recorded a bulk of tax increase.
Among the six States that raised taxes the most, five of them slashed services in various sectors namely public health, higher education, State workforce, early education and K-12 and the elderly or disabled. This is a clear indication that 2012 taxes, tax cuts is close to impossible or else the country suffers a decline. Two states also slashed their services in four of these sectors while the other two scrapped off funding for all the five sectors.
Interestingly though, the States with the highest tax raise still had some of the most generous programs for the residents instead 2012 taxes, tax cuts.
In the 2008 fiscal year, out of the six States, four of them spent over $4,600. This exceeded the national average of $4,114 per individual.