Sentences with phrase «for upstate manufacturers»

Cuomo has proposed a slew of business tax code changes that include reducing the rate and raising the exemption threshold for the estate tax, merging a dedicated bank tax into a corporate tax and reducing the overall rate, creating a new rebate for upstate manufacturers and the accelerated decline of an energy surcharge that the state extended in 2013.

Specifically, our project assessed the in - state economic impact of key business tax reductions that we expected to be included in the Executive Budget, including a reduction of the Article 9A ENI rate from 7.1 to 6.5 % (and to zero for upstate manufacturers); a modernization and restructuring of the corporate franchise tax, including its merger with the bank tax and other reform and simplification measures; and the adoption of a 20 percent real property tax credit for manufacturers statewide.

The package of tax cuts would cut the corporate income tax rate to the lowest it's been since 1968 and make dents in property taxes for upstate manufacturers.

Not exact matches

Last week, Mr. Cuomo proposed a massive tax cut plan, which includes across - the - board breaks for many, including property owners, renters and upstate manufacturers.

Here's where the upstate - downstate divide came most seriously into play for him: Cuomo's proposed 100 percent income tax elimination for manufacturers applies to Ulster and Sullivan counties, but stops at the Orange County line.

Eliminating corporate income taxes for manufacturers in upstate counties — including Sullivan and Ulster, but not Orange — is intended to help depressed areas of the state.

The potential is for upwards of $ 2 billion for his tax cut package that includes proposed reductions for property owners, businesses, renters and upstate manufacturers.

Cuomo wants to reduce the corporate tax rate, and eliminate it altogether for manufacturers who want to expand or locate upstate, where the economy continues to lag.

The New York Democrat announced a major push to secure a federal grant for the port he says will help upstate manufacturers export their products across the nation and globe via the Hudson River.

Cuomo, who is running for re-election on a platform of reducing taxes, would like to cut the tax rate on net corporate income from 7.1 to 6.5 percent, establish a 20 percent real property tax credit for manufacturers and eliminate net income tax on upstate manufacturers.

In his recent State of the State Address, New York Governor Andrew Cuomo called for a zero percent corporate income tax for manufacturers tax that locate in upstate New York, but one state Senator from the Hudson Valley says part of his district is being left out.

Recommendations include lowering the corporate tax rate; reducing the tax rate for manufacturers upstate; and updating the estate tax to bring New York in line with other states.

Business magazine Fast Company ranked the upstate New York food manufacturer the ninth most innovative company for 2017, ahead of.