Sentences with phrase «upstate manufacturers»
"Upstate manufacturers" refers to businesses or companies located in the northern regions or rural areas of a state. They are typically involved in the production or manufacturing of goods or products. Full definition
They also want to repeal an energy assessment on upstate manufacturers.
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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.
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.
Kenneth Adams, President and CEO of the Business Council of New York State, said: «Many New York companies, especially upstate manufacturers with energy - intensive production processes, depend on competitively - priced NYPA power.
Ken Pokalsky of the Business Council says plans to cut the corporate tax rate, phase out an energy tax, and offer tax free options for upstate manufacturers will improve the business climate and the economy.
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.
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.
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 potential is for upwards of $ 2 billion for his tax cut package that includes proposed reductions for property owners, businesses, renters and upstate manufacturers.
Some upstate manufacturers say they can not find enough skilled workers to fill job openings, while other manufacturing jobs are being eliminated because of automation.
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.