|But not too much.
The Tax Foundation, a Washington, D.C.-based think tank, has raised its ranking of New York State after the state adopted reforms to its corporate income tax system and estate tax in this year's budget.
It is now, according to the foundation, not the worst of all 50 states. It is the third worst.
In a report issued last week, the Tax Foundation said that New York's overall business tax climate ranking would have improved two spots to number 48, beating out New Jersey and California, if the tax system changes incorporated into the new state budget had been in effect when it drew up its 2014 rankings.
Last July, New York had an overall ranking of 50, making it dead last, when the Tax Foundation performed its analysis of state tax laws.
The main reason for the change is that New York has made taxes for corporations lower.
New York's corporate tax system had been ranked 25th best out of the 50 states. Now, the Tax Foundation believes, New York deserves to be ranked as having the fourth lowest corporate tax rates, behind only three states that have no corporate income tax at all, (Nevada, South Dakota and Wyoming), the foundation said.
The foundation said New York is still "not a low-tax state" but that the recent changes are "an impressive first step toward tackling this problem by broadening bases, lowering rates, reducing burdens and eliminating needless complexity."
Gov. Andrew Cuomo, who posts the Tax Foundation information regularly on his official website, hailed the new rankings by the Tax Foundation.
"This year's budget builds on positive reforms included in our three prior budgets, which have greatly improved the business and tax climate in the state and changed the trajectory of New York's economic standing," he said in a statement.
The good news however only goes so far.
Also ranked are unemployment insurance taxes (45th), corporate tax (4th best), the individual income tax (49th), the sales tax (38th), and property taxes (45th). New York rates abysmally in all except corporate taxes.
And, as to that, the Niagara County is the worst of the worst.
Out of 1824 counties studied, Niagara County has the second highest property taxes in America.
Erie County has the 13th highest.
Assemblyman John Ceretto (R-C-I-Lewiston), said he is "applauding the Tax Foundation for its recognition of New York's positive tax reforms in the new state budget."
What remains unchanged is that, while corporations are now paying lower taxes than 47 other states, the people, the workers, are still heavily taxed, having to payfor the inordinate number of people who elect to avail themselves of the generosity of New York State's welfare benefits package.
A full, basic package of welfare benefits in New York State is worth $38,004 per year, seventh highest offered by the 50 states and the District of Columbia, accordingto the Cato Institute's 2013 Work Versus Welfare Trade Off study.
Cato estimates the welfare package available in New York is the "pre-tax equivalent" of $41,251 per year, which is 110 percent of the actual statewide median wage of$39,562 (i.e. the median amount made by people who are employed).
In other words, the current welfare recipient in New York makes more money than the current average worker in New York.
The middle-income, working class will continue to support the high cost of New York welfare state-style government.
But now, in New York, corporations will pay less.