New York Senate calls for phase-out of tax on manufacturers

myStateTaxOffice
On March 11, 2013, the New York Senate adopted a resolution in response to Governor Cuomo’s Executive Budget, which was released in January.  Notably, the Senate resolution calls for elimination of the corporate franchise tax on manufacturers over a four-year period. The resolution reflects the Senate's position on several aspects of the Budget, but is not formal legislation.  We will continue to monitor budget negotiations and report on proposals that are introduced into the budget bill.  [New York 2013-14 Executive Budget, Senate 2013-14 Budget Resolution]


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