• Advocacy

UBT reform becomes a wider cause

On April 15--tax day--the Working Families Party led a rally on the steps of New York's City Hall, calling for reform of the Unincorporated Business Tax. Together with labor unions and elected officials, they're drawing attention to a new study from the Fiscal Policy Institute. According to the FPI study, the City could gain $200 million annually in tax revenue by making private equity partnerships and hedge funds liable for UBT. As NYC's freelancers know, the UBT code is sorely in need of revision. Originally designed to capture revenue from lucrative partnerships that weren't subject to corporate taxes, it hits sole proprietors right in the wallet. Freelancers are the proverbial dolphins in UBT's tuna net. For more on the FPI study and the campaign it's spawning, read the full press release in our news section or news coverage from Reuters.

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