New York is raising taxes for millionaires. Will other states follow?

9 April 2021 | Applicable law: US

The New York state Senate and Assembly passed a $212 billion budget proposal which will raise taxes on the wealthiest New Yorkers and corporations generating more than $4 billion in revenue.

The plan also includes more relief for those hit hardest by the coronavirus pandemic such as renters, small businesses, and undocumented immigrants. Withers’ Edward Renn was featured in an article published by providing guidance and strategic insight for New York’s highest earners. The full article is available to read here:

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.


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