Tag Archives: Tax-credits

Governor Cuomo weighs in on taxes

Gov. Andrew Cuomo spoke at Onondaga Community College yesterday where his remarks focused on Start-Up NY and taxes.  The Governor called New York’s tax rates “onerous,” and promoted his plan to completely eliminate state taxes for some businesses for a designated time period, as opposed to lowering the tax rates for all companies across the state. Specifically, he noted that the did not want to reduce taxes downstate, and was focusing Upstate’s economy as it has been, “shedding job and people for decades.”

Read more on the Governor’s trip on the Syracuse Post Standard website.

The Business Review: verdict on Empire Zone incentives not far away

Business Review logoAdam Sichko of The Business Review posted a report about a pending Court of Appeals decision on whether the state must repay millions of tax credits revoked from New York businesses four years ago.

Click here to read Sickho’s report on “the climax of [the] four-year fight.”

UPDATE: The state Appellate Division released its decision earlier today.

 

 

New York State tax credit brings ‘America’s Got Talent’ to New York City

Ken Lovett of the New York Daily News previews today’s expected announcement from Governor Cuomo and NBC that America’s Got Talent will move to Radio City Music Hall from it’s current location in New Jersey.  New York’s tax credit $420 million program applies to companies producing movies or TV series in the state a tax credit equal to 30% of production costs but also covers talk shows that film in front of an audience of 200 people that move from another state.

The tax credit has been dubbed the “The Jimmy Fallon Tax Credit” as it is the same tax credit that lured The Tonight Show back to the east coast.

Read Ken’s story, Talent will land at Radio City Music Hall on the NY Daily News website.

 

http://www.nydailynews.com/entertainment/talent-land-radio-city-article-1.1306222

Buffalo News: Tax break, subsidizing minimum-wage hike more costly than estimated

The Buffalo News LogoTom Precious of The Buffalo News took a look at the cost of the tax break being given to taxpayers to offset the higher payroll costs for businesses under the new minimum wage hike program. It appears original estimates were off by nearly by tens of millions of dollars.

Click here to read more.

While The Business Council was pleased that the new state budget limited spending, it does have concerns. Click here to read more.

Post: Minimum-wage increase combined with teen employment tax credit in New York state budget deal

Erik Kriss, bureau chief for the New York Post, reports on reaction to the tax credits that were combined with the minimum wage increase. He quotes Ken Pokalsky, The Business Council’s Vice President of Government Affairs, who said ““It’s certainly not the approach we had asked for.”

Click here to read more.

A deal on minimum wage: Tax credits for small business

In this morning’s Times Union, Jimmy Vielkind reports on what appears to be a tentative agreement on a new $136.5 billion budget, the centerpiece of which would be an increase of the state’s minimum wage to $9 an hour. Vielkind wrote that the GOP agreed to the increase in exchange for $700 million in tax credits for individuals and small businesses.

Click here to read his story.