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Federal Income Tax Provisions Under The Tax Cuts and Jobs Act

The Federal Tax Cuts and Jobs Act (TCJA) included over 100 provisions amending the federal taxation of individuals and businesses beginning in tax year 2018. Should the provisions of the TCJA sunset with no additional changes made to the federal tax code, there would be little impact on New York State tax collections due to the decoupling that occurred in State Fiscal Year 2018-19. Whatever the outcome relating to the extension of the TCJA as well the inclusion of any new proposals, New York taxpayers will be impacted.

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2024 Wall Street Bonuses

The average bonus paid to employees in New York City’s securities industry for 2024 reached $244,700, up 31.5% from last year. The bonus pool for the city’s securities employees reached a record $47.5 billion, its first major increase since the COVID-19 pandemic highs. Wall Street’s profits rose 90% in 2024.

DiNapoli: Wall Street Bonus Pool Reaches Record High of $47.5 Billion in 2024

The average bonus paid to employees in New York City’s securities industry for 2024 reached $244,700, up 31.5% from last year, according to New York State Comptroller Thomas P. DiNapoli’s annual estimate. The bonus pool for the city’s securities employees reached a record $47.5 billion, its first major increase since the COVID-19 pandemic highs. Wall Street’s profits rose 90% in 2024.

Women and Persistent Pay Gaps in New York

Women in New York working full time earned 87.3 cents on the dollar compared to men in 2023, meaning they would have to work an extra 53 days into 2024 to make what New York men made at the close of 2023. The gender pay gap in New York is smaller than the national average of 81 cents on the dollar in 2023.

DiNapoli: Women in New York Still Earn Far Less Than Men

Women in New York earned 87 cents on the dollar compared to men in 2023, according to a report on the gender pay gap released today by New York State Comptroller Thomas P. DiNapoli. Women would have to work an extra 53 days to make what men in New York earned in 2023.

DiNapoli Announces Sale of $540 Million State of New York General Obligation Bonds

State Comptroller Thomas P. DiNapoli announced the sale of New York State General Obligation (GO) Bonds totaling $539.6 million through competitive sale. Despite recent market volatility, strong investor interest in the state’s full-faith-and credit GO bonds resulted in favorable interest rates and produced savings for state taxpayers.