Earlier this month, the New
York State legislature passed a budget that included several important tax
reforms. NFIB/NY identified several of these measures as priorities in its 2014
Legislative Agenda, including reform of the estate tax, tax cuts for
manufacturers, the repeal of the 18A energy tax and a rate reduction for
businesses filing as corporations. The Department of Tax and Finance yesterday
released a summary
of provisions with a detailed description of the reforms and effective
dates.
Tax reform is only one part of a necessary and critical plan
to improve the outlook for small business in New York State. A breakdown
of recently passed legislation showed that policies have negatively impacted
small business far more often than they have helped. With only nine weeks left
in the legislative session, what should Albany do to start fixing its small
business problem? Leave a comment below with your suggestions.
