[SteveM85]

Originally Posted by jxzz

Same content, more readable text from yahoo finance:
https://finance.yahoo.com/news/conne...183227412.html

Not surprising, old days of heavy commuting from fairfield county to NYC for jobs are over. Not sure how that will play out on CT economy and impacts on different counties of CT.

CT personnel would move out to lower real estate. NYC or NYS personnel would take their current spots.
Minimal impact.

[Mike 75]

https://www.bloomberglaw.com/exp/eyJ...ws_filter=true

If this is true, could be a boon to CT tax revenue. Those people commuting into NYC everyday are paying income tax to NY. To the extent they are working from home in CT, that tax would now go to CT.

There is also the possibility that these workers could decamp to low tax states entirely.

[BobNJ1960]

Originally Posted by jxzz

Same content, more readable text from yahoo finance:
https://finance.yahoo.com/news/conne...183227412.html

Not surprising, old days of heavy commuting from fairfield county to NYC for jobs are over. Not sure how that will play out on CT economy and impacts on different counties of CT.

Many will work from home , at NYC based corps, long-term, well past the pandemic.

Metro North, btw, does not forsee a rush hour at Grand Central, long-term, per several public statements.

I doubt Cuomo will lift the 100% remote rule that exists in NYC non essential offices, past perhaps 50% allowed this entire year.

Our covid corp task force is not even discussing a return date, and we are actually in the essential category.

I see many corps following. Many large ones are leaning towards a reopen date where staff will be ALLOWED to return (limited qty a day), but not REQUIRED.

[SteveM85]

Originally Posted by BobNJ1960

Many will work from home , at NYC based corps, long-term, well past the pandemic.

Metro North, btw, does not forsee a rush hour at Grand Central, long-term, per several public statements.

Agree. Long commutes, college campuses. The dodo birds of the future, all gone.

Along those lines I believe it puts the transportation improvement initiatives the State has been discussing for years in a new light. No need for a $30B project or whatever the number was.

[JGBigGreen]

College campuses in general aren’t going anywhere. There will be a lot of failures for the ones who cannot re-open in time but in person learning is required for too many things for campuses to disappear. No one is going to Yale to study from their parent’s basement. Fiscally strong college and university campuses are not going extinct.

Originally Posted by SteveM85

Agree. Long commutes, college campuses. The dodo birds of the future, all gone.

Along those lines I believe it puts the transportation improvement initiatives the State has been discussing for years in a new light. No need for a $30B project or whatever the number was.

[SteveM85]

Originally Posted by JGBigGreen

College campuses in general aren’t going anywhere. There will be a lot of failures for the ones who cannot re-open in time but in person learning is required for too many things for campuses to disappear. No one is going to Yale to study from their parent’s basement. Fiscally strong college and university campuses are not going extinct.

No one is going to Yale to study period. What's that? .00001% of the worlds' population. Maybe the Yales and Harvard campuses stick around. The rest are gone in a couple of decades. Maybe that timeframe is moved up a little from the COVID fallout.

[ayoskillz]

Originally Posted by CTartist

There is so much news right not it is hard to remember everything.

I could have sworn I saw something about Governor Lamont and the unions coming to an agreement so I am assuming that he was talking about state employees. Does your family member work for the state?

This is hard times for everyone all around.

"She has a high earning salary"
You know what........there are many people with low salary jobs (that were not able to save money who were barely surviving) that have lost their jobs. If you put things in perspective I would say 75% of a high paying job is not that bad.

She works for an hospital system in the Hartford area. Reason is to not lay the lower end workers off which its still surprising how a hospital is lossing money but i guess anything is possible at this giving time.

Also like i said before, you can make 500k and your lifestyle/expensives are based on that so a 25% reduction would hit hard. The more you make the more you tend to spend

[ayoskillz]

Originally Posted by Mike 75

https://www.bloomberglaw.com/exp/eyJ...ws_filter=true

If this is true, could be a boon to CT tax revenue. Those people commuting into NYC everyday are paying income tax to NY. To the extent they are working from home in CT, that tax would now go to CT.

There is also the possibility that these workers could decamp to low tax states entirely.

I said this about a month ago to jayct about people leaving big cities all together and commuting in every so often. Lets see how this plays out.

It would be interesting to see how taxes end up being but i still "THINK" if you are working under a company directly but just are based at home then you are still to pay the state taxes where your job is based in/at

[JGBigGreen]

Hospitals are hemorrhaging money because they can't perform "elective" procedures which drives the huge majority of their income. Layoffs and furloughs are happening across the country in healthcare so I say kudos to that hospital for trying to find a way to keep all workers on in some capacity.

Originally Posted by ayoskillz

She works for an hospital system in the Hartford area. Reason is to not lay the lower end workers off which its still surprising how a hospital is lossing money but i guess anything is possible at this giving time.

Also like i said before, you can make 500k and your lifestyle/expensives are based on that so a 25% reduction would hit hard. The more you make the more you tend to spend

[jxzz]

Originally Posted by ayoskillz

I said this about a month ago to jayct about people leaving big cities all together and commuting in every so often. Lets see how this plays out.

It would be interesting to see how taxes end up being but i still "THINK" if you are working under a company directly but just are based at home then you are still to pay the state taxes where your job is based in/at

In short term for tele commuting, yes you are right, it is still based on an office, NYC office based work at home means paying tax for NY state.

But things could change over longer term. For example, NYC firm open up an office in CT, and move the work from home employees to CT, suddenly no NY tax, only CT state. Tax base will change over longer period for sure.