Tax Plan for New Firms Urged

May 22, 2013News Tax Plan for New Firms Urged University-Based Businesses Could Get 10-Year Tax Break PermalinkCloseFacebookTwitterExpand/Collapse New businesses on university campuses in upstate New York would be able to operate tax-free for 10 years under a proposal introduced Wednesday by Gov. Andrew Cuomo and legislative leaders. ALBANY—New businesses on university campuses in upstate New York would be able to operate tax-free for 10 years under a proposal introduced Wednesday by Gov. Andrew Cuomo and legislative leaders. The proposal, which requires legislative approval, would allow new businesses on the State University of New York’s 64 campuses to avoid sales, property and business taxes, and their employees wouldn’t be required to pay income taxes. Private colleges north of Westchester County would also be eligible for the program. As much as 200,000 square feet surrounding the campuses would be included in the tax-free region. –Erica Orden