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New York To Refund Gay Couples Forced To Pay Estate Taxes
Source: Huffington Post
ALBANY, N.Y. -- Same-sex spouses forced to pay high New York estate taxes upon the death of their partner will get refunds from the state.
Gov. Andrew Cuomo said Tuesday that the refunds are being issued as a result of the recent U.S. Supreme Court decision that struck down part of the Defense of Marriage Act, also known as DOMA.
In declaring the section unconstitutional, the court granted gay couples the same rights to assets and lower tax costs under estate tax laws that are provided to couples in traditional marriages. Same-sex spouses may have been required to pay thousands of dollars more in New York estate taxes when their partner died.
...snip...
The state legalized gay marriage in June 2011 and a month later, on July 24, the its department extended equal rights under the estate tax law to legally married gay couples, even those married in other states before New York legalized gay marriage. But federal law prevented the state from extending the rights retroactively. The Supreme Court decision allows it to do so.
Gov. Andrew Cuomo said Tuesday that the refunds are being issued as a result of the recent U.S. Supreme Court decision that struck down part of the Defense of Marriage Act, also known as DOMA.
In declaring the section unconstitutional, the court granted gay couples the same rights to assets and lower tax costs under estate tax laws that are provided to couples in traditional marriages. Same-sex spouses may have been required to pay thousands of dollars more in New York estate taxes when their partner died.
...snip...
The state legalized gay marriage in June 2011 and a month later, on July 24, the its department extended equal rights under the estate tax law to legally married gay couples, even those married in other states before New York legalized gay marriage. But federal law prevented the state from extending the rights retroactively. The Supreme Court decision allows it to do so.
Read more: http://www.huffingtonpost.com/2013/07/23/new-york-gay-couples_n_3640763.html
Tough choice for Republicans: stand by their principle of opposing "special rights" for Gays, or stand by their principle that all tax cuts are good...
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