Advocates for the proposal look at the distribution of taxes differently.
A recurring reform proposal would introduce a "split roll" so that commercial property can be taxed differently.
Why, for example, should an investment that is sold after 365 days be taxed differently from one sold after 364?
But even if you think capital gains and income should be taxed differently, carried interest looks like income, not equity, and should be treated as such.
Also, money invested in the trust is taxed differently, and potentially the investments will be less tax-efficient than if the money were to remain in the pension.
So unless Albany gives the city permission to calculate its business taxes differently, the city would stand to lose revenue as well.
Mr. Steinberg said that there are a number of reasons why the writer's two buildings would be taxed differently from each other and from properties in the neighborhood.
In Ptolemaic Egypt, for example, where ethnic groups were taxed differently, those classed as "Greeks" included ethnic Egyptians working in the administration, and some Jews.
Article 18, a state law passed in 1981 that applies only to New York City and Nassau County, allows commercial property to be taxed differently from commercial property.
By taxing most goods and services in the same way and at the same rate, the GST reduces the complexity and distortions that arise when things are taxed differently," the report says.
A Treasury spokesman said: "At the budget, we announced proposals to address anomalies that have built up in the VAT system and have led to similar products being taxed differently.
