MCTMT Changes Effective July 1 2025
A provision in the recently-enacted New York State budget for the 2025 to 2026 fiscal year changes the rate of tax for employers who are subject to the metropolitan commuter transportation mobility tax (MCTMT), effective for quarters beginning on or after July 1, 2025. There is no change to the rate of MCTMT tax for the 2025 tax year for taxpayers with self-employment income. Smaller employ...