When the state budget was recently being passed, the Governor and Legislature disagreed on tax policy so the state’s critical tax withholding charts will not be updated but the state’s tax brackets are changing. This means people are now paying more taxes to the state that they do not owe. The state gets to use those funds interest-free. Meanwhile, your family may be struggling to meet your tuition payments.
Families should contact their accountant or their employer’s human resources department to have their withholding levels adjusted to reflect the changes in the tax brackets because the amount they owe is going to be lower than what they are currently paying.
While the state has to eventually give you the money back, you won’t have the money in the meantime to spend on the things your children need, like school tuition, fees and textbooks.
“By not changing those withholding tables to match the new tax rates, they’re over confiscating revenue from every single worker in the state, and they are using that money for free,” said Rep. John Macco, chair of the Assembly Ways and Means Committee.
