Tax exemption urged for LI vacation homes
Quick ReadVacation home owners would be exempt if the second home is more than 50 miles from their jobs and they spend 90 days or less there per year.
Photo credit: Kevin P. Coughlin | The sun rises over Montauk Point at 5:15 a.m. on the first day of summer. In the foreground Napeague, Napeague Harbor and Napeague Bay. (June 21, 2010)
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Real LI Blog
East End politicians are trying to limit a law that allows New York State to collect full income taxes from people who live permanently elsewhere but work and own vacation homes here.
The law requires out-of-state residents with jobs in New York to pay tax on all of their income -- including dividends, capital gains and other earnings beyond wages -- if they spend more than 183 days a year...
