Voice your Support for Providing Tax Relief to all NYS Manufacturers
Act Now - Contact Your State Legislator
Sign The Letter
I work for a New York manufacturer and ask that you please support tax parity for all manufacturers to help retain and grow jobs here in our state.
When a zero percent corporate franchise tax rate was enacted for manufacturers organized as C corps in 2014, it spurred expansion and made our state more attractive to new high-tech manufacturing companies. While it provided significant relief to those manufacturers, it left about 75% of manufactures still paying the higher rate and therefore putting them at a competitive disadvantage with manufacturers located in other states with no or low income tax.
The majority of manufacturers in New York are small-to-medium sized manufacturers organized as S corps, proprietorships, LLCs and/or partnerships (pass-through entities). Now is the time for New York to correct an inequity and extend much needed tax relief to all manufacturers in New York regardless of how they are organized. I strongly support the language that was included in the Assembly's One-House Revenue Budget Bill Proposal (9009-B Part GG) that would phase in a zero percent tax cut for pass-through entities over three years starting with taxable year 2022.
I believe this form of economic development will allow struggling manufacturing companies to continue to recover from the COVID-19 pandemic, and allow manufacturers to invest more in their productions, workforce, and local communities. It would provide tax parity and support a critical industry sector that is embracing advanced technology.
Thank you for your time and efforts on this important legislation.
Yes, I want to Volunteer
Sign The Letter