The New York State Capitol Building
Photographer: Angus Mordant/Bloomberg via Getty Images
New York lawmakers are proposing to raise taxes on startup investment gains, a move the tech industry says would drive venture capital out of the state, Nacha Cattan reports.
- Part of President Donald Trump’s tax and spending law enacted last year increased—from $10 million to $15 million—the amount of capital gains from the sale of certain company stock that eligible investors may exclude from taxation under federal law. The New York plan would “decouple” the state from the new federal statute by keeping the $10 million limit, for the purpose of state income taxes.
- The state Senate advanced ...