Tax Foundation says NY, NJ have worst tax climates in US - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Tax Foundation says NY, NJ have worst tax climates in US

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ALBANY, N.Y. (AP) — The Tax Foundation says New York is the worst state in the nation when comparing the complexity of tax codes and tax rates.

The ranking released Wednesday by the national research organization shows New York is ranked 50th, behind New Jersey (49) and California (48).

New York's individual income tax ranking was 49th.

The business group Unshackle Upstate says the ranking is further evidence bold, broad-based tax relief is needed for families and businesses.

Gov. Andrew Cuomo has established two tax commissions that will recommend ways to simplify the tax law and cut taxes.

Cuomo and the Legislature have extended an income tax surcharge on top earners and a business tax that together have generated more than $2 billion in additional tax revenue annually since 2010.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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