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You may have heard that Governor Cuomo has created a program called Start-Up NY, which establishes certain “tax-free” zones across NYS, including NYC.

For qualifying businesses, the program provides the following tax exemptions for 10 years:

1. sales tax relief on all purchases made in NYS;

2. personal income tax relief for employees of your business; and

3. property tax relief.

I actually applied online myself, but it turns out that professional services companies don’t qualify. Nevertheless, many other types of businesses do qualify. If you’re an entrepreneur, a small business owner or you know someone else that is, you should look into this program. After you apply online, someone from the Start-Up NY office will call you in a few weeks to discuss your qualifications.

If you have any questions, please let me know. Good luck!