«By adopting key tax reform measures — including modernizing and restructuring the corporate franchise tax, reforming bank taxation, reducing the corporate
franchise tax rate to 6.5 percent, adopting the 20 percent real property tax credit for manufacturers, and others — New York will provide employers with approximately $ 560 million in tax relief that can be reinvested in the economy.
Key reforms include modernizing and restructuring the corporate franchise tax, reforming bank taxation, reducing the corporate
franchise tax rate to 6.5 percent, adopting the 20 percent real property tax credit for manufacturers, and others.
Not exact matches
«The significant restructuring of the corporate
franchise tax, broad - based business
tax rate reductions, and expedited business relief from the Section 18 - a energy assessment will also improve the state's economic competitiveness and help the economy grow.
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.