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Tax Law

Legal Alert: New York budget bill passes legislature

The New York Legislature has approved budget legislation for the Fiscal Year 2021 (the Budget Bill). Consistent with Governor Andrew Cuomo’s earlier promises, the Budget Bill does not contain significant revenue raising provisions, but there are some notable tax changes. The Budget Bill was finalized as the New York State Department of Taxation and Finance has separately extended certain payment and filing deadlines.

Read the full legal alert here.