Krueger: Telecommunications Industry is Rapidly Changing, New York’s Tax Policies Need to Catch Up
(Click here to view the report)
Senator Liz Krueger (D-Manhattan) released today a comprehensive report by the Senate Select Committee on Budget and Tax Reform on modernizing New York State’s telecommunications taxes.
The report, which is based on oral and written statements from the Select Committee's August 12 roundtable in Albany, notes how New York State’s telecommunications tax system is long overdue for an upgrade. The last time it received a major overhaul was nearly 15 years ago.
Since then, New York's telecommunications taxes have become more complicated and inequitable Today the complexity has become so problematic that in the state budget passed earlier this year, the Senate directed the Department of Taxation and Finance and the Public Service Commission to do a full accounting of the state’s telecommunications taxes. They are expected to issue a report on their findings in October.
“New York State tax policy has failed miserably to keep pace with the rapidly-changing telecommunications industry. This game of catch-up is becoming costly to both consumers and businesses,” said Senator Krueger.
“The Select Committee’s staff report, coupled with the findings of Tax and Finance’s forthcoming report, will shed light on inequities in the system and hopefully guide us along as we look to bring more parity to the telecommunications tax system,” Senator Krueger said.
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