Status Quo for New York's Small Businesses
ALBANY (October 28, 2014): Today the National Federation of
Independent Business (NFIB) is asking Albany to show small businesses in New
York that they are willing to enact the kind of comprehensive tax reform shown
to corporations last year.
“Corporate tax reform was certainly a step in the right
direction for our economic recovery, however small business continues to suffer
under a burdensome tax system in New York and we implore Albany to provide our
small business owners with tax relief,” said Mike Durant NFIB/New York
State director. “Ranking 49 out of 50 states for tax climate is an
embarrassment to the state and those small business owners that are doing
everything they can to remain here.”
Businesses tend to locate where the competitive advantage is
greatest, according to the Tax Foundations data. A state improving their
overall tax system will attract new business and generate economic growth as
well as employment opportunity.
“For all the rhetoric about a ‘new New York’, the fact
remains that little has changed for small employers. This latest ranking should serve as a serious
reminder to Albany, superlatives aside, that the mission is far from
accomplished,” Durant said.
According to The Tax Foundation, its Tax Climate Index
enables business leaders, government policymakers, and taxpayers to gauge how
their states’ tax systems compare and New Jersey has found itself with nowhere
to go but up.
