Gov. Cuomo signs regulatory relief for small businesses as 2019 closes, which includes small business tax cuts as a priority in 2020 agenda.
Tax Cuts for Small Businesses
On Jan. 8, Gov. Andrew Cuomo delivered his 2020 State of the State address, revealing his 2020 agenda, “Making Progress Happen.”
In his address, the Governor announced a proposal to cut taxes for tens of thousands of small businesses across New York. NFIB’s New York State Director, Greg Biryla stated, “Governor Cuomo’s tenth State of the State address delivered big news for the small businesses that employ half our state’s workforce and serve as economic cornerstones for communities across New York. Small businesses are far more likely to reinvest new revenue into their operations, growth, and local economy.”
Regulatory Reform Signed Into Law Tops 2019 Victories
In the closing days of 2019 Governor Cuomo signed legislation long championed by NFIB that will provide a reprieve from punitive fines for small businesses that commit a first-time, minor regulatory violation provided the infraction is corrected within 15 days.
The Governor also vetoed a proposal that would allow property liens to be placed on small business owners at the mere allegation of a wage dispute. NFIB advocated tirelessly to see this bill vetoed.
What Small Business Regulations Are Most Burdensome?
The state’s regulatory environment is a patchwork of hundreds of thousands of rules, mandates, and directives administered and enforced by dozens of bureaucratic agencies and state entities. Making compliance easier for small businesses is essential, but so is understanding which regulations are most burdensome, redundant, or outdated so we can focus on cutting through the red tape that is truly holding your businesses back. The Empire Center for Public Policy, an independent, free-market think tank that NFIB regularly collaborates within New York has launched its DeRegulate NY initiative aimed at identifying the most burdensome regulations in most need of reform or repeal. Learn more.
