> This is just a detail. The city creates the tax so they can change it any way they want.
The majority of large companies are Delaware C-corps and they pay the State-specific taxes for each employee's home state and the employee's primary office location. There's no way that NYC could tax all of a company's worldwide employees who never set foot in NYC just because it has an office in NYC. Attempting or merely suggesting it would have massive consequences.
If they're going to go full cash-grab, they might as well figure out the property values that align with billionaires and structure property taxes that specifically target them. For example Bezos has a couple apartments in NYC[1] bought for about $80M. They could put a one-time %100000 property tax and demand he pay them $80B.
The majority of large companies are Delaware C-corps and they pay the State-specific taxes for each employee's home state and the employee's primary office location. There's no way that NYC could tax all of a company's worldwide employees who never set foot in NYC just because it has an office in NYC. Attempting or merely suggesting it would have massive consequences.
If they're going to go full cash-grab, they might as well figure out the property values that align with billionaires and structure property taxes that specifically target them. For example Bezos has a couple apartments in NYC[1] bought for about $80M. They could put a one-time %100000 property tax and demand he pay them $80B.
[1]: https://www.businessinsider.com/jeff-bezos-apartments-new-yo...