June is tax time

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June is normally the time when thoughts of many people turn to proms, the end of school, summer vacations, pennant races and barbeques.

But this year, New Yorkers may have to focus on their wallets a little more than usual.

A host of new taxes passed as part of the state budget and then, for people in the Hudson Valley, last month as part of a plan to bail out the Metropolitan Transportation Authority, take effect on Monday, June 1.

They range from higher levies on auto insurance to Internet purchases and car and limo rentals.

The biggest hit was scheduled to be a new nickel deposit requirement on water bottles, but a state Supreme Court judge this week put off the effective date, saying that bottlers weren’t given enough time to work out the details of the new program. So for now, the only containers that require the deposits are beer and soda bottles and cans.

The biggest tax hike, on the incomes of the wealthy, is retroactive to the first of the year. Overall, lawmakers and Gov. David Paterson agreed to increase taxes and fees by about $8 billion to help close a budget gap.

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