Tax Reduction

New York’s state and local business tax burden consistently ranks among the nation’s worst in tax climate rankings. To address these issues, we need to:

• Restructure the corporate franchise and bank tax to simplify compliance, and support new investments and jobs inNew YorkState
  
  
• Modernize real property tax administration to assure more fair and equal tax treatment of commercial and industrial properties
  
  
• Adopt a new, refundable research and development tax credit for capital and qualified non-capital research expenses
  
  
• Extend the state’s “qualified emerging technology company” tax credit for capital, operational and training investments that expired at the end of 2011

For more information on tax legislation visit: www.bcnys.org/inside/taxcom.htm