Time’s Running Out to Participate in NY’s Payroll Tax Program
Earlier this year, New York established the Employer Compensation Expense Program (ECEP) as part of the 2018-2019 New York Budget. This optional program was created to offset the Tax Cuts and Jobs Act (TJCA) of 2017, which limits itemized deductions for state and local income taxes (SALT) for individuals to $10,000 per year.