Senator John A. DeFrancisco announced on June, 18, 2012, that legislation he sponsored (S6837-2011), creating an angel tax credit for investors who invest in certified startup business enterprises, passed the Senate.
The bill authorizes the Commissioner of Economic Development to certify Startup Business Enterprises (SBE) in targeted industries and technologies and allocates $7 million in Angel Tax Credits each year. The minimum investment is $100,000 and is capped at $1 million per individual small business.
Your clothing and footwear purchases up to $110 dollars are no longer subject to New York state sales tax.
On April 1, 2012, the New York State sales tax clothing exemption was restored to the original less-than-$110 threshold.
This means that sales of eligible clothing and footwear, costing less than $110 per item or pair, are now exempt from the state's 4% sales tax and local tax in those localities that enacted the exemption. This new tax break could save a family of four as much as $200 dollars a year.
The Family Tax Relief Act Would Increase Tax Credits to Help Struggling Middle Class Families, Restore STAR Property Tax Rebate Checks for Millions of New Yorkers
Senate Republican Leader Dean Skelos and members of the Senate Republican Conference today unveiled the Family Tax Relief Act, a package of tax relief and reform measures designed to provide a major economic boost to New York’s struggling middle class families.
The Senate Republican plan would increase tax breaks that have not kept pace with inflation, and, in some instances, haven’t been adjusted for more than 25 years. The plan also restores the STAR property tax rebate check program to provide real and direct relief to millions of New Yorkers who pay some of the highest property taxes in the country.
On this week's Your Voice program, I explain how the “Public Assistance Integrity Act,” which has passed the State Senate, would prevent welfare fraud and protect taxpayer dollars. I also discuss legislation that I have sponsored to crack down on tax delinquent landlords.
Senators DeFrancisco & Marcellino To Chair Hearings on Reducing and Reforming NYS Taxes To Ease Burden on Taxpayers and Create Jobs
The state Senate Finance Committee, chaired by Senator John DeFrancisco (R-C-I, Syracuse), and the Committee on Investigations and Government Operations, chaired by Senator Carl L. Marcellino (R, Syosset), have scheduled five statewide public hearings on how New York’s tax policies can be changed to reduce the burden on taxpayers and to help businesses create more jobs.
State Senator John A. DeFrancisco, chairman of the Senate Finance Committee, and Senator Carl L. Marcellino, chairman of the Committee on Investigations and Government Operations, are hosting five statewide public hearings on reforming New York’s tax policies to help reduce the burden on taxpayers and help create jobs.