New York: Governor Proposes Tax-Free Zones


By thomaswong.1986   Follow   Wed, 17 Apr 2013, 9:21pm   303 views   8 comments
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What do you hear from Pnet Libs... there goes the GOP at it again, cutting taxes unfair etc etc etc.

New York: Governor Proposes Tax-Free Zones

In his 2013 State of the State Address, Governor Andrew M. Cuomo suggested the creation of “Innovation Hot Spots” — tax free zones that would “encourage business growth in New York State.”

The governor wants the Empire State to remain “a progressive beacon of light to the rest of the nation… .” Toward that end, ten higher education and private sector high-tech incubators will compete to be Innovation Hot Spots. The program will offer “inventors and entrepreneurs support to grow their businesses and be part of a tax-free zone, where start-ups will not be subject to business, real property, and sales taxes… .”

Governor Cuomo hopes the tax-free zones will attract high tech companies to the state. (wkbw.com).

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  1. futuresmc


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    1   11:29pm Wed 17 Apr 2013   Share   Quote   Permalink   Like (2)   Dislike  

    thomaswong.1986 says

    What do you hear from Pnet Libs... there goes the GOP at it again, cutting taxes unfair etc etc etc.

    By libs, you must mean libertarians as this is a totally anti free market idea as it's based on the government giving unfair advantage to one set of businesses (those within the innovation zones) over others (those who don't make it into the zones). In a free market, governments don't pick winners and loosers or give advantage to any party.

  2. Vicente


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    2   11:53pm Wed 17 Apr 2013   Share   Quote   Permalink   Like (2)   Dislike  

    Baffling, I frankly have no idea what to make of this vaguely described idea. We'll see how it plays out. I suspect existing companies would simply find a way to use this as another tax-avoidance scheme, and it would do little to foster actual startups.

  3. curious2


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    3   12:01am Thu 18 Apr 2013   Share   Quote   Permalink   Like   Dislike  

    thomaswong.1986 says

    start-ups will not be subject to business, real property, and sales taxes…

    Wake me when someplace decides that house buyers will not be subject to real property and sales taxes.

  4. APOCALYPSEFUCKisShostikovitch


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    4   3:03am Thu 18 Apr 2013   Share   Quote   Permalink   Like (5)   Dislike  

    America needs mayhem zones in which the rule of law has been suspended and people can kill and rape and commit banking crimes with total Freedom.

  5. zzyzzx


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    5   8:11am Thu 18 Apr 2013   Share   Quote   Permalink   Like (1)   Dislike  

    Vicente says

    Baffling, I frankly have no idea what to make of this vaguely described idea. We'll see how it plays out. I suspect existing companies would simply find a way to use this as another tax-avoidance scheme, and it would do little to foster actual startups.

    I agree. It's the details that matter here.

  6. AverageBear


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    6   7:16am Fri 19 Apr 2013   Share   Quote   Permalink   Like (1)   Dislike (1)  

    Well, when the voters elect officials that declare war on success/wealth, and scratch their heads when millionaires move out of NY, and tax revenue and business declines, they think up some crazy ideas.

  7. CaptainShuddup


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    7   8:32am Fri 19 Apr 2013   Share   Quote   Permalink   Like   Dislike  

    It did wonders for Malaysia, their public housing looks like luxury condominium highrises.

  8. Dan8267


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    8   8:44am Fri 19 Apr 2013   Share   Quote   Permalink   Like (1)   Dislike  

    APOCALYPSEFUCK is Shostakovich says

    America needs mayhem zones in which the rule of law has been suspended and people can kill and rape and commit banking crimes with total Freedom.

    It already has one. It's called Detroit.

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