New York Resources Page
Inward Investment Guides

New York Basic Business Taxes 2012

Area Development Online Research Desk (2012)
New York's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include corporate income tax, investment tax credits, and the Excelsior Jobs Program. More

New York Direct Financial Incentives 2012

Area Development Online Research Desk (2012)
New York's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the New York State Economic Development Fund, Excelsior Jobs Program, and the Manufacturing Assistance Program. More

Defense Cutbacks Lead to Novel Industrial Parks

John K. Borchardt (Winter 2012)
From coast to coast, U.S. Navy shipyards have been converted into industrial parks with facilities occupied by small, medium, and large companies employing from fewer than a dozen people up to several hundred. More

2012 Office Real Estate Market Outlook: In for a Slow Recovery

Bill Krouch , CEO of Jones Lang LaSalle Americas - Markets, Jones Lang LaSalle (2012 Directory)
Global economic uncertainty, resulting in a lack of business confidence, is overshadowing recovery in the office real estate market. More

2012 Industrial Real Estate Market Outlook: Occupy Big Box

Craig Meyer, Executive Managing Director and leader of Jones Lang LaSalle’s Logistics and Industrial Services group, Jones Lang LaSalle (2012 Directory)
There was a modest recovery in demand for industrial real estate in 2011, with demand for “big box” space dominating the market. More

Natural Gas Boom Boosting Regional Economies

John K. Borchardt (November 2011)
Hydraulic fracturing (“fracking”) and horizontal wells now make it possible to economically produce natural gas from low permeability shale rock, greatly increasing natural gas supplies while reducing prices. More

New Technology Accelerator Bridges Start-Ups From Innovation to Commercialization

Michael Alt, Director, Eastman Business Park (Fall 2011)
The consortium, known as the Innovation and Materials Science Institute, includes organizations across a range of disciplines to help middle-stage technology companies fast-track new products to market. More

Regional Report: Mid-Atlantic States Thrive on Diversity of Industry

Beth Mattson-Teig (July 2011)
Business expansion is picking up across the Mid-Atlantic region as the economy rebounds, and the region’s states are busy positioning themselves for even more growth in the future. More
News Items
 
Around The Web
 
Studies/Research
News Items
 
Around The Web
 
Studies/Research

new york at a glance

POPULATION:19,378,102 (April 1, 2010)

LABOR FORCE:9,629,500 (August 2010)

RIGHT TO WORK: No

TRADITIONAL INDUSTRIES:Manufacturing, transportation, agriculture, tourism

EXPANDING INDUSTRIES:Biomedical/biotech; green/clean tech; communications and media services; distribution; fashion, apparel, and textiles; food processing; industrial machinery and systems; information hardware and software; materials processing; optics and imaging; wood products

COLLEGE GRADUATES:(Age 25 and over) 32.5% (2010)

BASIC BUSINESS TAXES:
Corporate Income Tax: NYS's maximum corporate franchise (income) tax rate for most corporate taxpayers is 7.1 percent; for qualified NY manufacturers the corporate franchise tax is 6.5 percent. Corporations pay the highest tax computed on the following four alternative bases: (1) a tax of 7.1 percent (6.5 percent for qualified NYS manufacturers) on allocated entire net income; (2) a tax of 0.15 percent on allocated business and investment capital (maximum for qualified NYS manufacturers: $350,000; maximum for nonmanufacturers: $1 million; (3) a tax of 1.5 percent on allocated minimum taxable income; and (4) a separate minimum tax at fixed dollar amounts, based on NY receipts, ranging from $25 to $5,000

Sales and Use Tax: NYS imposes a sales/use tax at the rate of 4 percent. Counties and cities may impose a sales tax up to a combined maximum of 3 percent within their respective territorial limits. A number of localities have been authorized to impose tax at additional rates (i.e., in excess of 3 percent), ranging from 1/4 percent to 1 5/8 percent. An additional 0.375 percent sales tax rate is charged in counties located within the Metropolitan Commuter Transportation District (12-county area in the lower Hudson Valley, New York City, and Long Island). Manufacturing, aircraft, and IDA exemptions exist.

Property Tax: New York State does not levy real property taxes, however property taxes are levied by local governments. The counties, which are the principal taxing local units, operate under the town system, so that much of the actual administration and collection of taxes is accomplished at the municipal level. Counties, cities, towns, villages, and school and special districts all have independent powers of taxation. Rates vary according to location.

BUSINESS INCENTIVES
New York State Economic Development Fund

Excelsior Jobs Program

Manufacturing Assistance Program

Environmental Investment Program

Linked Deposit Program

Minority- and women-owned business development

Small Business Revolving Loan Fund

Emerging technology tax credits

Film and TV production tax credits

Investment Tax Credit

Economic Transformation Program

Principal Manufacturing industries

  • Fabricated Metal Products
    11.4%
  • Computer & Electronic Products
    10.3%
  • Food
    10.1%
  • Machinery (except electrical)
    9.4%
  • Chemicals
    9.3%
  • Printing & Related Support Activities
    6.1%
  • Transportation Equipment
    5.3%
  • Plastics & Rubber Products
    4.9%
  • Other Manufacturing Industries
    33.2%