[Fredslist] NYC Unincorporated business tax credit increased

[Jennifer Naylor]

To all you Gotham freelancers:

Friday, June 15th, the New York City Council passed a bill to increase the
Unincorporated Business Tax credit!  This is a huge victory for freelancers,
and a tremendous first step toward eventually exempting them from the UBT.

The credit that the Council passed has a progressive structure, giving the
greatest relief to middle class taxpayers.  Many freelancers will find their
2007 UBT liability significantly reduced as a result.

For example, in 2006, a freelancer earning $75,000 as a sole proprietor owed
$765 in UBT.  The new legislation, along with an additional $5,000 deduction
that is still pending in Albany, will reduce this freelancer¹s UBT bill to
$261, a savings of $504, or 66%.

This  above release is wholly lifted from the homepage of www.ubtwatch.org.

I exhort all freelancers to join Freelancers Union to advocate on your own
behalf for things like tax relief, health insurance and unemployment
funding. www.freelancersunion.org

Best, 

Jennifer Naylor
Gotham Women LI
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