GOV Cumo: New Business Pay No Taxes In New York

I first heard of this a few weeks ago and it slipped my mind to look here. So I just did a search for this topic and didn't find anything related to it:

Cumo Unveils New Plan

The plan, “Tax-Free N.Y.,” will offer college-friendly companies exemptions from a wide variety of state taxes — including those on sales, property, the income of employees and owners — for 10 years.

“What do we mean by tax-free?” asked Mr. Cuomo, at the program’s announcement at the College of Nanoscale Science and Engineering at the State University at Albany. “We mean tax-free.”

Mr. Cuomo’s plan would effectively open tens of millions of square feet at dozens of SUNY campuses to new businesses without collecting taxes. It would also allow three million square feet of tax-free business at private colleges north of Westchester County, as well as up to 200,000 square feet in zones adjacent to SUNY campuses.

Start-Up NY

Now businesses can operate 100% tax-free for 10 years. No business, corporate, state or local taxes, sales and property taxes, or franchise fees.

IMO this is yet another example of hypocrisy. Already there are loopholes for mega-businesses to in essence pay zero federal taxes. Can you imagine what would happen if General Electric decided to place their global HQ on a NY campus (which were build in the first place with federal dollars; ie Pell Grants and student loans). Suddenly there is a possibility that they could now pay no federal OR state/local taxes and doesn't have to worry about trivial matters like building maintenance, as they would be using a college campus building to house their operations.

Opinions?

reply to post by Lipton


Progressives, leftists say always that taxes grow the economy. Taxes help society, taxes higher taxes are essentially a good thing.

But when it comes right down to it, lesser taxes spur growth, lesser taxes spur economies, lesser taxes keeps money in the pockets of the people.

Who spend it and further spur on the economy.

Cumo is a hypocrite, but one that sees (regardless of what he says) that low or no taxes aids in growth.

reply to post by beezzer


Oh I know full well that Cumo knows that lower taxes spur growth. It's just a shame his constituents don't realize that.

beezzer
reply to post by Lipton

 

Progressives, leftists say always that taxes grow the economy. Taxes help society, taxes higher taxes are essentially a good thing.

where and when?

I consider myself "leftist" by US standards - I certainly say no such thing.

But when it comes right down to it, lesser taxes spur growth, lesser taxes spur economies, lesser taxes keeps money in the pockets of the people.

Who spend it and further spur on the economy.

Arant nonsense that you would have to be deaf dumb and blind to believe any more!!

reply to post by Aloysius the Gaul


You're right.

We should keep money out of the hands of real, actual people.

Government knows better how to spend it.

Aloysius the Gaul
Arant nonsense that you would have to be deaf dumb and blind to believe any more!!

Maybe you should write a letter and tell Cuomo that?

Cumo: Curb Spending and Reduce Taxes

"Staying within personal income means raising the state budget at the same rate the people of the state were earning," Cuomo said during his budget address.

"We have too many levels of government, period," Cuomo said. Erie County, for instance, has more than 1,000 local governmental units, including drainage, lighting, sewer, fire and park districts, as well as cities and towns. The county's total property tax levy is $1.6 billion.

At least one 'leftist' gets what I, and many others, have been screaming for years....

Just so long as none of those pesky conservative types move in there. I mean Gov Cuomo made it clear that there is no place in NY for them, tax free or otherwise.

They should pack every square inch of space with Hobby Lobbies, Chick-fil-As and LifeWays.

reply to post by beezzer

Progressives, leftists say always that taxes grow the economy. Taxes help society, taxes higher taxes are essentially a good thing.

The only people that say this are the ones that have actually paid attention to the economic history of America.

But when it comes right down to it, lesser taxes spur growth, lesser taxes spur economies, lesser taxes keeps money in the pockets of the people.

This is the same kind of talk that was going around when Reagan started his voodoo economics. And it worked great national debt went up 186% and personal bankruptcies went up by 600%. And how was America rewarded for dropping these taxes like the right wanted? The companies started moving the jobs overseas.

reply to post by buster2010


And again, I must say that you would be of the group that thinks keeping money out of the hands of the people and into the hands of government is a good thing.

(Hopey Changey!)

Already there are loopholes for mega-businesses to in essence pay zero federal taxes.

Big Effing Deal!

Everyone has loopholes, and tax credits from them evil corporations, to the people.

News Flash half this country does not pay INCOME tax :www.huffingtonpost.com...

And the income tax WAS CREATED to pay down the FEDERAL DEBT not to pay the peoples debt, all so the masses can go out and buy all the corporate products their little hearts desire.

Them bloody Evil Corporations!

Hate them so much don't buy anything from them.

reply to post by beezzer

Progressives, leftists say always that taxes grow the economy. Taxes help society, taxes higher taxes are essentially a good thing.

They are most definitely wrong.

Taxation takes trillions out of the economy from property taxes, to gas taxes, and ever other tax there is.

The only thing taxes does, and increasing them is grow the amount of money the US government blows.

reply to post by buster2010

his is the same kind of talk that was going around when Reagan started his voodoo economics.

Is this all people have ?

disparaging Reagan and 'voodoo' like its some kind of 'withcraft' sounds like those people who were mocking that woman from Delaware.

Point of fact the more money people have from not being taxed puts more money in to the economy that any liberal progessive ideoleogy bail's out .

To 'friendly' support as we saw with the 700 billion dollar stimulus that still to this day ain't got jacksnip to show for it.

Like green 'energy' companies, and unions, et al.

And we all know trickle up economics meaning rob from the evil rich and give to the so call 'needy' even though current federal spending is over 2.2 trillion dollars on them.

None of those social engineering programs pay for themselves, and are nothing but materialistic greed to make someone else pay for their existence.

Meanwhile them bloody evil corporations get even richer because the state mandates it vis a vis emotional 'rhetoric' how if you don't take someone elses money and let government give it to those they deem worthy.

I don't care about them.

Blah.

This is exactly why I support the abolition of the income tax.

Tired of the GD demagogic bubbles people play with it.

good post. spot on. this is how commies like all the elected lords and ladies of the new york think. when they say seperate but equal what they mean is divide and conquer. this is what vote buying looks like. this is why public educations ONLY agenda is to turn out people as illiterate, vile, hateful and bigoted as the govenor of new york. shouldn't be a surprise that hillary moved there. so, if your a decent human being, apparently, new york isn't a place for you. that i can already agree with.