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Governor Cuomo's tax reform/fairness commission report
November 15, 2013

Governor Cuomo's tax reform/fairness commission, empaneled in December 2012, issued its final report yesterday.  The press release and summary is available here; it contains a link to the full report.

Our overview of this report is provided below.

I look forward to any comments or questions you have. Please feel free to contact me at ken.pokalsky@bcnys.org or by phone at 518-465-7511 x 205.

This commission, co-chaired by Peter Solomon and Carl McCall, was tasked with making revenue neutral reforms to income, business and sales taxes in order to increase tax “fairness” and to simplify the tax code.  The Governor's second commission, named this past October, will be reporting in early December with recommendations on tax reductions.

Yesterday's report included a number of proposals advocated by The Business Council, including a revamping of the corporate franchise and bank tax.  In many instances, the report made fairly broad recommendations, but did not provide details on how reforms would implemented.

Highlights include the following: