Senate repeals and phases out tax for self-employed
Albany, N.Y. – (6/20/12) – The New York State Senate has passed legislation sponsored by Senator Greg Ball (R, C – Patterson), that will repeal the metropolitan commuter transportation tax for self-employed individuals who earn less than $250,000 annually.
Senator Ball has been fighting to repeal the tax since it was instated in 2009. As a member of the New York State Assembly, Ball introduced legislation to repeal the tax and audit the MTA. “The single most important thing we can do collectively in the Hudson Valley to create jobs is reverse the MTA payroll tax,” said Senator Ball. “While it was a great achievement to repeal the MTA Payroll Tax for 80% of those suffering from its burden, we never accepted the important mission of a full repeal as complete.”
In 2011, the metropolitan commuter transportation tax was repealed for approximately 289,000 businesses with annual payrolls below $1.25 million. More than 6,000 businesses with payrolls between $1.25 and $1.75 had their payroll tax cut by as much as two-thirds.
Under the current law, self-employed individuals who earn over $50,000 a year are still paying the metropolitan commuter transportation tax. This legislation will repeal the metropolitan commuter transportation tax for self-employed individuals who earn less than $250,000 annually.
This legislation will also reduce the amount that self-employed individuals who earn from $250,000 to $300,000 to .11 percent, and self employed individuals who earn from $300,000 to $350,000 to .23 percent.
For more information or to speak with Senator Ball, please contact Krista Gobins: