Taxes

Cuomo plans NY tax change to avoid $1.5B hit on taxpayers

Gov. Andrew Cuomo wants to separate the state's tax rates from the federal rates to keep New Yorkers from a $1.5 billion income tax increase, the Democrat's top budget official testified Thursday during a budget hearing.

Walker says tax credits could go to other paper companies

Gov. Scott Walker said Wednesday that proposed job-retention tax credits for consumer products giant Kimberly-Clark Corp. could be extended to other paper companies if there are "significant opportunities" to retain and add jobs.

ECB experts: US tax law could erode Europe's tax base

Economists at the European Central Bank say that the U.S. corporate tax cut should lift the world's largest economy in the short term but could erode the tax base in European countries by intensifying global competition for lower rates.