New York Announces Tax-Free Communities

DALLAS, May 29, 2013 /PRNewswire/ -- On May 22, 2013, New York Governor Andrew M. Cuomo announced Tax-Free NY, an initiative that will transform State University of New York (SUNY) campuses and university communities into tax-free communities. The goal behind this initiative is to attract start-ups, venture capital, new businesses, and investments to the area. Companies relocating to these tax-free communities will not be subject to sales, property, or business taxes. Furthermore, employees of businesses that relocate to these communities will be exempt from paying personal income tax. Businesses eligible for this initiative include those with a relationship to the academic mission of the university and a focus on job creation. The exemptions for new businesses will be available for ten years.

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About Ryan
Ryan is an award-winning global tax services firm, with the largest indirect tax practice in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 9,000 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com.

TECHNICAL INFORMATION CONTACTS:

Jeremiah T. Lynch
Principal
Ryan
212.871.3901
[email protected]

Thomas Stringer
Principal
Ryan
212.871.3901
[email protected]

SOURCE Ryan, LLC

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