Imagine being able to operate a business 100% New York State tax-free for 10 years – and have employees enjoy no NYS income taxes for up to 10 years! Now you can, thanks to New York Governor Andrew Cuomo’s groundbreaking initiative, Start-Up NY!
No NYS income tax, business, corporate, state or local taxes and no sales and property taxes, or franchise fees. I know you’re asking yourself, can this be real? Well it is! So, how do you get started? It’s simple – first, connect with a partner college or university in the program who gives you access to our great higher education assets. Second, be a new start-up company; a company from out of NYS that is relocating to NYS; or expanding as an existing NYS company. Lastly, pick the place you want to operate in a designated tax-free zone. Get the details and apply at www.startup-ny.com or contact University at Buffalo’s Program Administrator Karen Utz at [email protected] to learn more.
While certain businesses are excluded from the program, including retail and wholesale businesses; restaurants and hospitality; professional medical or law practices; and energy production and distribution companies, Start-Up NY could be the perfect opportunity to find the best home for your business growth!
Julie Molenda is the marketing communications manager at the NYS Center of Excellence in Bioinformatics & Life Sciences.