Artnet
The high-end art market might be coming under increased scrutiny as budgets tighten.
Anyone who has ever bought or sold art in New York knows that the taxes and transaction costs can be lofty—and now they could intensify.
New York State Senator Robert D. Jackson recently proposed a bill that would impose a tax on art, antique furniture, and antique jewelry sold at auction. It would also amend the state finance law to establish an art education fund to provide assistance for art supplies for public school students.