Large Tax Breaks Await Companies Relocating Near SUNY Campuses
December 4, 2013Large Tax Breaks Await Companies Relocating Near SUNY Campuses
Businesses building or relocating into newly established tax-free zones, mostly in upstate New York, can realize big tax benefits beginning January 1, 2014. The zones will be located near campuses of the State University of New York (SUNY), the City University of New York (CUNY), and certain private colleges and universities.
"START-UP NY is one of the most innovative programs in the US for business incubation and job creation. It's far-reaching and groundbreaking," says Steven P. Bryde, JD, Principal in the Tax Practice at Marks Paneth. "But qualification standards are strict and the application process is complex. Business leaders and employees need to explore the program now and act quickly if they're going to be able to take advantage of the major tax breaks that are available for the 2014 tax year."
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