With Cuomo sitting on his hands and simply paying for some “come do buisness in NY” advertising, I assume there will be more NY companies moving on the Connecticut, real soon.
Many of the employees, especially high income earners including the CEO quoted in the article, are not “new” taxpayers to CT. They already live there & pay some form of tax in CT. However, they currently pay NY state tax as well & claim credit on their CT return. The net effect is more $ for CT, none for NY, and (somewhat) lower personal income taxes for CT residents.
While Malloy is boasting about paying six figures per employee to relocate 100 people to Stamford, meanwhile simultaneously, Metlife is relocating 450 jobs from Bloomfield to Charlotte, NC.
With Cuomo sitting on his hands and simply paying for some “come do buisness in NY” advertising, I assume there will be more NY companies moving on the Connecticut, real soon.
“…They’re new taxpayers…” Betcha that’s ALL he sees!
Many of the employees, especially high income earners including the CEO quoted in the article, are not “new” taxpayers to CT. They already live there & pay some form of tax in CT. However, they currently pay NY state tax as well & claim credit on their CT return. The net effect is more $ for CT, none for NY, and (somewhat) lower personal income taxes for CT residents.
While Malloy is boasting about paying six figures per employee to relocate 100 people to Stamford, meanwhile simultaneously, Metlife is relocating 450 jobs from Bloomfield to Charlotte, NC.