Luxury Tax Update: Not Much to Report

Governor Paterson's proposed 'luxury tax' is still being debated in the state assembly and there is very little in the way of updates. At this point it seems unlikely that the budget will be passed by April 1. The last recorded action on the bill was on 1/21/09, when the assembly amended and referred it back to the ways & means committee. It would be helpful to know if the luxury tax portion of the bill was amended, so that we could all get on with buying our luxury cars, yachts and planes.

You can keep up-to-date on any specific bill at the website for the state assembly:
http://assembly.state.ny.us/leg/. Enter A00160A for the assembly bill number, S00060A for the senate bill number, and thank your 8th grade civics teacher.

Finally, McMichael's Sales Coordinator and all-around detail guru Tish Fontanella will be in Albany next week, and will have the oportunity to get some clarification on the status.