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On August 22, 2012, the New York Supreme Court granted a plaintiffs' motion for summary judgment and held that the Metropolitan Transportation Authority (“MTA”) payroll tax (also known as the “metropolitan commuter

MCTMT Struck Down by New York Supreme Court Ruling

On August 22, 2012, the New York Supreme Court granted a plaintiffs' motion for summary judgment and held that the Metropolitan Transportation Authority (“MTA”) payroll tax (also known as the “metropolitan commuter transportation mobility tax”, or “MCTMT”) was passed in violation of the New York State constitution.    The MCTMT is projected to generate about $1.26 billion in revenue this year alone.  Unless the case is reversed on appeal, alternative funding sources and significant service cuts would be required of the MTA.

For more details on the ruling and its impact on taxpayers, please click here. 

 

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About Jon Zefi

Jon Zefi in Tax Services provides tax planning and compliance advice with a focus on mergers and acquisitions, tax rate minimization and tax risk mitigation. Member New York State Bar Association and the American Bar Association Tax Sections.