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Tax free New York plan.

Steve

Well-known member
Tax free New York plan has been all over the airwaves..


the pitch,.. just move to NY and you get no state, property or

Start-Up NY, pledges a 10-year exemption from property, sales, and state income taxes for people starting or expanding a business in New York.

TV commercial that promises: "Move here ... and pay no taxes for 10 years."

The campaign is the brainchild of Democratic Gov. Andrew Cuomo, who is up for re-election this year and is mentioned as a possible presidential candidate in 2016.

wow that sounds great no taxes for ten years.. now is that a promise he intend on keeping..

But critics say the devil is in the details: the plan, which is centered on the creation of tax-free zones, contains many regulations and exceptions that will make it hard to work as promised.

The new New York is open. Open to innovation. Open to ambition. Open to bold ideas. That's why New York has a new plan. Dozens of tax-free zones all across the state. Move here, expand here or start a new business here, and pay no taxes for 10 years. We're New York. If there's something that creates more jobs and grows more businesses, we're open to it."

The program doesn't actually guarantee 100 percent tax-free status — and it only applies to a specific segment of the business world.

Start-Up NY applies only to new or certain expanding businesses that are willing to partner with universities in the state and locate near their campuses.

Only those businesses "with 100 percent of their operations ... in a tax-free area" would receive a zero tax liability, Start-Up NY said. "For businesses with operations in and out of a tax-free area, the credit would be pro-rated based on the percentage of assets and payroll within a tax-free area."

The nonprofit Tax Foundation just released its list of best and worst states in the nation to conduct business, and New York came in dead last at No. 50.

"The states in the bottom 10 suffer from the same afflictions: complex, non-neutral taxes with comparatively high rates," the Tax Foundation reported in its 2014 State Business Tax Climate Index, which bases its ratings on corporate taxes, individual taxes, sales tax, unemployment insurance tax, and property tax.
http://www.newsmax.com/Newsfront/Cuomo-New-York-tax-free/2014/02/04/id/550910?ns_mail_uid=186118&ns_mail_job=1554946_02052014&promo_code=16619-1

sure this sounds like bait and switch..

If you like tax break.. ,.. then you can keep your tax break.. PERIOD!
 

Tam

Well-known member
Another campaign promise that will never come true for those that think they can believe a DEM. :roll:

The only way this will work is for the next ten years established businesses and property owners will be paying HIGHER TAXES to cover the difference.
The Dems are picking winners and losers AGAIN.

Besides Cuomo can't even make a deal with NYC new mayor to stop him from raising taxes on the Rich so what is the likelihood he will make a deal with him to not collect any tax from some body that has enough money to start a business in NYC that is big enough to employ NY'ers?
 
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