New York Explores Taxing Netflix, Other Streamers to Foot City’s MTA Bill
thewrap.comWall Street Journal, the first to report the story, officials are also weighing increasing corporate taxes to 9.25% on businesses reporting more than $5 million of income and a 25-cent surcharge on package deliveries.
Meanwhile, a separate proposal from Democrats in the New York State Senate would tack a 50-cent surcharge on ride-hailing trips.Lawmakers estimate that the streaming tax could eventually raise more than $100 million a year.
The corporate tax hike is expected to generate $865 million in the first year – the majority of which would reportedly go to the MTA – while the package and ride-hailing surcharges could potentially raise another $300 million and $240 million, respectively.The New York State Assembly is looking to offer an alternative to Gov.
Kathy Hochul’s plan to raise $700 million for the MTA by increasing payroll taxes.The MTA has projected that it would need over $1 billion to keep its subways, buses and commuter trains running.
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