On the Department of Taxation and Finance website, navigate to the 'Annual Report on Tax Expenditures' page. From the 'What are tax expenditures?' section, state the definition of tax expenditures as provided on the page. Also, list the first three types of taxes associated with tax expenditures mentioned in the 'What does the report include?' section.
Navigate to www8.tax.ny.gov Click on the 'Tax data' menu button (id: 115) Click on the 'Annual Report on Tax Expenditures' link (id: 182) Locate the 'What are tax expenditures?' section. Extract the definition of tax expenditures. Locate the 'What does the report include?' section. Identify and list the first three types of taxes enumerated in that section.
Successfully navigates to the 'Annual Report on Tax Expenditures' page (https://www.tax.ny.gov/data/stats/ter/). States the exact definition of tax expenditures: 'features of the Tax Law that by exemption, exclusion, deduction, allowance, credit, preferential tax rate, deferral, or other statutory device, reduce the amount of taxpayers’ liabilities to the State by providing either economic incentives or tax relief to particular classes of persons or entities, to achieve a public purpose'. Lists the first three types of taxes as: 'Personal Income Tax (Article 22 of the Tax Law)', 'Corporate Franchise Tax (Article 9-A of the Tax Law)', and 'Insurance Tax (Article 33 of the Tax Law)'.