Companies in New York 'open' to new payroll tax system: state official

Companies in New York 'open' to new payroll tax system: state officialBy Stephanie Kelly NEW YORK (Reuters) - Companies in New York state are "open to the idea" of moving the state income tax code to a payroll tax system, a senior state official told Reuters on Friday. Governor Andrew Cuomo earlier this week said the state was exploring using a payroll tax as an alternative to the income tax in order to help residents hurt by new limits on deductions of state taxes from federal returns, under a sweeping overhaul of the U.S. tax code passed in late December.




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