NFIB/NY Praises Senate One House Small Business Proposals

Date: March 11, 2015

ALBANY (March 11, 2015)  The
National Federation of Independent Business (NFIB) praised the New York Senate
Majority Conference today for its commitment and comprehensive approach to boosting
New York’s small businesses. 

“This could not have come at a
better time for small business in New York. Thanks to the Senate Republican
Majority Conference, especially Majority Leader Skelos and Senator DeFrancisco,
small employers can have some hope that relief from New York’s ridiculously
burdensome tax structure is in sight,” said NFIB New York State Director
Michael Durant
.  “We believe this package of tax cuts far exceeds the
narrow proposal that Governor Cuomo put forth in January.” 

“The tax cuts coupled with
making the property tax cap permanent, the immediate phase out of the 18a
energy assessment and their steadfast rejection of costly labor mandates, this
package will boost small business all across New York,” continued Durant. 

The Senate announced a proposal
to advance a $200 million small business package that will include an increase
to the business income tax exemption from 5 percent to 10 percent for all
businesses and farms that file under the personal income tax, have no more than
$500,000 in business income, and at least one employee.

“This package would save small
businesses in New York $125 million annually. That’s more money for them to
increase wages, hire additional employees or to reinvest in their own
businesses by purchasing equipment. More than half a million New York
businesses will be able to reap the benefits of this package, if it’s included in
the final budget agreement,” continued Durant.  “We will continue to work
as hard we can, advocating on behalf of small businesses, to ensure that it
will be included.”

 

Related Content: Small Business News | New York

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

Or call us today
1-800-634-2669

© 2001 - 2024 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy