The Westchester County Industrial Development Agency is offering a Xylem, a water treatment equipment manufacturer, $562,000 in sales-tax exemptions to keep the company from moving to Stamford. The IDA voted Thursday to offer the exemptions in a bid to keep the company’s 106 jobs in the county, according to an… Read More →
Tax Watch encourages feedback and occasionally spotlights reader’s thoughts and opinions on taxes and related subjects. In response to Tax Watch’s recent examination of local Industrial Development Agencies, the jobs they create and the tax breaks they give companies, Robert Rowton of Tarrytown wrote in to question why increased development… Read More →
UPDATE: Direct link to package here. In today’s The Journal News and on LoHud.com, Tax Watch examines the region’s multimillion-dollar industrial development agencies, also known as IDAs. Read “The High Cost of Development” on the Tax Watch page - http://www.lohud.com/section/NEWS15/Tax-Watch. The government entities charged with economic development and job creation in… Read More →
In tomorrow’s The Journal News and on LoHud.com, Tax Watch will take a look at industrial development agencies, specially created government entities that foster economic development by providing companies with tax incentives. The front-page package looks at the growing use of IDA incentives, the thousands of jobs they create and… Read More →
The Blind Brook school district in Rye Brook said if a private company is granted a tax exemption it could cause teacher layoffs and increases in class size, according to an article in today’s Journal News by Leah Rae. Signature Flight Support, a fixed-based operator at Westchester County Airport that… Read More →
Port Chester officials will establish a local development corporation to provide economic assistance to nonprofit organizations in the village, LoHud.com’s Leah Rae reports today. The board recently approved the plan and is in the process of establishing the entity. It will be managed by the same board members that oversee… Read More →
Laws providing tax deductions for living organ donors have not markedly increased donations, according to a new study. A study in the August issue of American Journal of Transplantation found no significant difference in annual donation rates in donation rates in the 15 states, including New York, that enacted tax… Read More →
Sen. Kirsten Gillibrand, D-New York, has co-sponsored legislation that would provide tax breaks and incentives for small business, including doubling the deduction for start-up costs. The Success Act of 2012 contains several provisions that would benefit small businesses and investors, including: Doubling the tax deduction for new business start-up costs… Read More →
If a proposed bill becomes law, U.S. Olympic athletes could get a tax benefit worth thousands of dollars on their winnings. U.S. Sen. Marco Rubio, R-Fl., and U.S. Rep. Aaron Schock, R-Ill., proposed The Olympic Tax Elimination Act, which would eliminate federal taxes on any honorariums and medals earned by… Read More →
Yoga studios in New York have been exempted from paying sales taxes because tax officials say the popular form of exercise is primarily a spiritual practice. After considering it for a year – and previously ruling yoga studios should pay taxes like other fitness centers – the state Dept. of… Read More →
