The Taxpayers Party of New York was founded by Carl Paladino in 2010, with the help of Rus Thompson, Leonard Roberto, Michael Caputo and Gary Berntsen.

It officially gained ballot access on August 10, 2010 and fielded candidates in the New York state elections, 2010.

[1] Other than a committee to fill vacancies, the party does not have operations and served only as an additional ballot line for Republican candidates; it was originally designed to counter the decisions of the Conservative Party of New York State under New York's electoral fusion laws.

Had Paladino received 50,000 votes on the line in 2010 and gained permanent ballot access, the party would have had to put together an organizational structure.

Rus Thompson, Gary Berntsen and Michael Caputo, who helped organized the party line, orchestrated an attempted ballot access campaign for David Bellavia in the New York's 26th congressional district special election, 2011, but because Paladino and Leonard Roberto endorsed Republican nominee Jane Corwin, the organization used the name "Federalist Party" for Bellavia's petitions instead of the Taxpayers Party.