NFIB lauds tax relief proposal, but expresses concern about new paid leave mandate.
ALBANY, January 8, 2020 — NFIB, the leading small business association in New York with more than ten thousand members in the state, lauded Governor Andrew Cuomo’s proposal for small business tax cuts in his State of the State Address today. The following comments are attributable to NFIB’s New York State Director, Greg Biryla:
“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. The Governor’s proposal to reduce the tax rate from 6.5% to 4% for qualified small businesses and expanding existing tax exemptions for sole proprietors and small farms will create homegrown economic expansion from Lake Erie to Long Island. NFIB has long identified and vigorously advocated for small business tax relief, and now is the time to deliver.
“While we have real concerns regarding additional paid leave mandates and the new administrative costs they place on independent businesses, it was refreshing to see the Governor’s mandatory sick leave proposal make a distinction between big-box corporations and Main Street entrepreneurs in its application. NFIB will work with our members to ensure that the small business perspective is heard loud and clear wherever new labor mandates are being discussed.
“Lastly, New York faces a significant budget deficit for the first time in several years. The Governor and legislators from both parties must work constructively to live within the public’s means and reject any inclination to add new taxes, fees, or assessments on to the backs of New York’s small, independent business owners.”
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