As of April 2026, new New York tax proposals and laws focus on increasing revenue through taxes on high-value second homes in NYC and potential tax hikes for the ultra-wealthy. Key changes include an enhanced Empire State child credit for 2025-2027 and proposed increases to corporate tax rates to 9.25% for companies earning over $10 million.
Mamdani and Hochul are out to go full Socialist and destroy the place, which is what socialism accomplishes in the long run. I think there was an old movie "Escape from New York"? Yeah, I hope I live long enough to see how the real thing develops.
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