Start-up New York - Don't Pay Taxes For 10 Years

[Tiago]

NEW YORK
IS TAKING CARE OF BUSINESS

There’s a new advantage to doing business in New York. A big one. START-UP NY, Governor Cuomo’s groundbreaking initiative, is transforming communities across the state into tax-free sites for new and expanding businesses. Now, businesses can operate 100% tax-free for 10 years. No income tax, business, corporate, state or local taxes, sales and property taxes, or franchise fees.
Eligibility

Many different types of businesses are eligible to apply to START-UP NY. In order to participate, your company must:

• Be a new company in New York State
• Be a foreign or domestic company that is relocating to New York State
• Be an existing New York State company that’s expanding — for example, a company creating a new line of business or opening a new advanced manufacturing facility — and not simply moving existing jobs from one location to another location
• Be aligned with the academic mission of the college or university with which you hope to work
• Be able to create new jobs in the first year
• Be able to bring positive and economic benefits

In New York City, Long Island and Westchester County, businesses must be start-ups or high-tech companies.


Non-Eligible Businesses
Certain types of businesses are excluded from the program. These include:

• Retail and wholesale businesses
• Restaurants
• Real estate brokers
• Law firms
• Medical or dental practices
• Real estate management companies
• Hospitality (lodging for travelers or vacationers)
• Finance and financial services
• Businesses providing personal services (including personal care, death care, pet care, or laundry and cleaning services)
• Businesses providing business administrative or support services (unless the business is creating at least 100 new jobs and has received permission to participate)
• Accounting firms
• Businesses providing utilities, or energy production and distribution companies

This is a great opportunity! Not paying taxes for 10 years that's just amazing. I just wanted to share this with you guys, see more at http://startup.ny.gov

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.