New York lawmakers devise plan to release Trump's state taxes
Source: Hartford Courant
by David Klepper
Associated Press
New York Democrats have hatched a plan to get a look at Donald Trump's tax records by crafting a piece of legislation designed to get at his state returns that does everything but mention the Republican president by name.
The bill introduced this month in New York's Senate and Assembly would require the state to release five years of state tax information for any president or vice president who files a New York state return.
While Trump's state return wouldn't include all the details from his federal return, it would offer the public much more information about the president's potential conflicts of interest or how his finances would be impacted by his own tax cut proposal, according to supporters.
Democrats in New York and more than two dozen states have crafted bills that would require presidential candidates to release their federal returns in order to appear on that state's ballot. None of those, however, would require Trump to release old returns. New York state "is in a unique position to change the national conversation," according to Democratic Sen. Brad Hoylman, of Manhattan, because the president is a native New Yorker.
Read more: http://www.courant.com/nation-world/ct-trump-tax-return-legislation-20170430-story.html
Aha! You can get the IRS to hide your tax returns, donnie, but you're NOT going to get the NYS government to hide them.
This should be good, hope it goes through.
yuiyoshida
(41,831 posts)put a spot light on that!!!
sheshe2
(83,751 posts)iluvtennis
(19,852 posts)sheshe2
(83,751 posts)Love it.
hrmjustin
(71,265 posts)George II
(67,782 posts)Still, the exposure is worth it though.
hrmjustin
(71,265 posts)George II
(67,782 posts)onenote
(42,700 posts)Because the New York State Senate has been controlled by the Repubs or just about evenly split almost continuously for at least the past 75 years.
Even in statewide elections, repubs historically have done well in New York (admittedly, some of them were moderate, particularly by today's standards). But this is a state in which the US Senate seat in which Chuck Schumer has occupied since 1999 was controlled by the repubs from 1957 to 1999. And the US Senate seat occupied by RFK, Daniel Moynihan, Hillary Clinton, and Kristen Gillibrand was held by Republicans for most of the time between 1947 and 1977.
iluvtennis
(19,852 posts)Do not mention the word exposure when speaking of tRump. That scares me and I will suffer nightmares through all eternity.
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eggplant
(3,911 posts)I know that when I submit my state forms, they require copies of nearly all my federal forms as well. NY computes taxes based on your federal numbers, plus or minus for specific things. For example, your previous year's state refund is considered income on your federal return, but gets deducted back off for your NY return.
It is done this way, rather than having the state do all of its own separate computations. You literally copy the values off your 1040 and then do the + and - parts after that.
So while it is true it doesn't include EVERYTHING in your federal return, it includes a hell of a lot of it by design. It will also show any creative tax filings that take advantage of NY loopholes, so there's that, too.
iluvtennis
(19,852 posts)..as state deductions/et al are shown as "Adjustments" to the Fed Return
Get Off Of My Cloud
(22 posts)And to make sure this doesn't happen again we need a law making all tax records public like property tax record are now.
If ya got nothing to hide there should be no problem
This is how they got Al Capone put away- Tax evasion!
mahatmakanejeeves
(57,425 posts)Yours too?
Get Off Of My Cloud
(22 posts)I got nothing to hide
You finding out what I make, how I make it, what I pay or don't pay in taxes won't affect me
We need some transparency to make things fair
mahatmakanejeeves
(57,425 posts)banks where you have your money, your...?
I got nothing to hide
You are free to post your completed 1040 online anytime you'd like. Why not here, in this thread?
No redactions.
Me? No thanks. Include me out. Privacy ensures that people will file.
brooklynite
(94,520 posts)7962
(11,841 posts)And to him thats a great embarrassment. Finding loopholes etc, he would proudly say he was a great businessman for using them.
But to show he's not as rich as he says would be a uuuuge slap to him.