It 201 Att Instructions 2023-2024 Form

Instructions and help about 2023 new york att

WITH A NEW YEAR UPON US, TAX SEASON AND CHANGING TAX RULES ARE IN FOCUS. 2023 ACTUALLY SAW TAX REVENUES DECLINE IN 40 STATES. THE BIGGEST LOSERS, NEW YORK AND CALIFORNIA. SO LAWMAKERS ARE NOW CONSIDERING NEW WEALTH TAXES. LET'S GET OUT TO ROBERT FRANK WITH MORE. ROBERT? >> THE DROP IN IPOs AND STOCK SALES LAST YEAR ADDING TO THE FISCAL CRISIS THAT'S EMERGING IN HIGH-TECH STATES. AS YOU MENTIONED, TAX REVENUE DECLINED IN 40 STATES WITH THE HIGHEST TAX STATES HIT HARDEST. CALIFORNIA SAW A 25% DROP IN REVENUE. THAT'S COMPARABLE TO THE FINANCIAL CRISIS IN THE DOT COM BUST. THE STATE NOW FACES A 68 BILLION DOLLAR DEFICIT. THAT IS THE LARGEST IN CALIFORNIA HISTORY. NEW YORK'S TAX REVENUE EXPECTED TO DROP BY $10 BILLION NEXT YEAR. THAT COULD LEAD TO A $4 BILLION DEFICIT. 10 BILLION THE YEAR AFTER THAT. BOTH STATES NOW BATTLING DEMANDS TO CUT SPENDING OR RAISE TAXES. CALIFORNIA LEGISLATURES PROPOSING A WEALTH TAX. 1% TOTAL WEALTH OVER $50 MILLION AND 1.5% ON BILLIONAIRES. NEW Y