It’s said that New York is the city that never sleeps. Lately, it’s also the city that never stops calculating. With talk of higher corporate and millionaire taxes on the table, finance professionals across Manhattan are running the numbers an...
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Can New York Really Tax Its Way to a Free Ride?
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Subscribe05 NOV 2025 / ACCOUNTING & TAXES
Newly-elected Mayor of New York, Zohran Mamdani, has unveiled a major economic plan with adjustments to corporate and high-income tax rates aiming to fund expanded public programs. However, finance professionals are skeptical if the estimated revenue of $9 billion a year - $5 billion from higher corporate taxes and $4 billion from a surcharge on million-dollar incomes - is realistic or will cause businesses to relocate, potentially leading to a financial shortfall in the city's budget.
It’s said that New York is the city that never sleeps. Lately, it’s also the city that never stops calculating. With talk of higher corporate and millionaire taxes on the table, finance professionals across Manhattan are running the numbers an...
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