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A comment on Open Letter from New York State Budget Director Robert Mujica Regarding Amazon. Parent comment
And even that seems high. From the proposal, “Amazon will have an annual payroll of $3.75 billion. …There’s been nothing like it in history,”
Payroll tax for amazon is about ten percent: https://www.payroll-taxes.com/state-tax/new-york
So, wouldn’t that mean the revenue loss is just 300M a year. And given they are forgiving 3B of that, the revenue over 25 years ends up being 4.5B over 25 years, which is even less.
Here are the assumptions built into that $27B number, which was generated by proponents of the deal: https://www.democratandchronicle.com/story/news/politics/alb...
Finally, there are 20M people in New York. So 1.2B of amazon revenue per year (high end) equates to $60 a person at the end of the day.
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And even that seems high. From the proposal, “Amazon will have an annual payroll of $3.75 billion. …There’s been nothing like it in history,”
Payroll tax for amazon is about ten percent: https://www.payroll-taxes.com/state-tax/new-york
So, wouldn’t that mean the revenue loss is just 300M a year. And given they are forgiving 3B of that, the revenue over 25 years ends up being 4.5B over 25 years, which is even less.
Here are the assumptions built into that $27B number, which was generated by proponents of the deal: https://www.democratandchronicle.com/story/news/politics/alb...
Finally, there are 20M people in New York. So 1.2B of amazon revenue per year (high end) equates to $60 a person at the end of the day.