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March 30, 2005

New economy runs afoul of tax-sucking leviathan

New York's highest court has ruled that people who work for NY employers but telecommute from out of state can be taxed by NY on 100% of the income paid by that employer (apparently regardless of whether or not the income is also taxed by the telecommuter's home state). This is not surprising, given that New York is already a regulatory nightmare, but this is definitely a bad precedent that is sure to be followed by other states. Savvy NY employers are sure to try to find ways around this by coming up with new and creative ways to compensate out-of-staters.

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