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New York
Resources Page
Following the Talent: How the Search for Highly Skilled Workers Affects a Location DecisionCompanies that seek highly educated, talented labor need to consider locating in places that attract this caliber of worker. More |
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Making Energy Retrofits Work for Tenants and OwnersTenant engagement is key to achieving energy efficiency and reducing the carbon footprint of multitenant buildings. More |
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States Fund Renewable Energy ProjectsSixteen states have taken the lead in funding for renewable energy projects through tax and production incentives, rebates, grants, and loans. More |
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New York's a Major Hub for Nanotechnology Research and Renewable EnergyProactive preparation for fiscal challenges have kept the state at the forefront of development opportunities. More |
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State Contacts
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New York
At A Glance
POPULATION:
19,297,729 (July 1, 2007)
Corporate Income Tax: Principal tax is the greater of 7.1 percent (6.5 percent for qualified New York manufacturers) of allocated net income; or 1.78 mills per dollar of investment capital allocated to New York (maximum for manufacturers: $350,000; maximum for nonmanufacturers: $10 million for tax years beginning on/after Jan. 1,2008 but before Jan. 1, 2011; $1 million for tax years beginning on/after Jan. 1, 2011); or 1.5 percent on the allocated minimum taxable base; or a minimum flat rate ranging from $25 to $5,000, based on New York receipts
LABOR FORCE: 9,519,300 (2007 annual average)
RIGHT TO WORK: NoTRADITIONAL INDUSTRIES: Manufacturing, transportation, agriculture, tourism
EXPANDING INDUSTRIES: Biomedical/biotech; green/clean tech; business and financial services; communications and media services; distribution; fashion, apparel, and textiles; food processing; industrial machinery and systems; information hardware and software; materials processing; optics and imaging; transportation equipment; travel and tourism; wood productsCOLLEGE GRADUATES: (Age 25 and over) 31.2% (2006)
BASIC BUSINESS TAXES:Corporate Income Tax: Principal tax is the greater of 7.1 percent (6.5 percent for qualified New York manufacturers) of allocated net income; or 1.78 mills per dollar of investment capital allocated to New York (maximum for manufacturers: $350,000; maximum for nonmanufacturers: $10 million for tax years beginning on/after Jan. 1,2008 but before Jan. 1, 2011; $1 million for tax years beginning on/after Jan. 1, 2011); or 1.5 percent on the allocated minimum taxable base; or a minimum flat rate ranging from $25 to $5,000, based on New York receipts
Sales and Use Tax: The state rate is 4 percent of receipts from retail sales; in New York City and the communities in the Metropolitan Commuter Transportation District, the tax is 4.375 percent; some counties and municipalities may impose additional sales and use taxes ranging from 1 to 4.75 percent, with exemptions
Property Tax: Based on full value of real property including special franchises; equalization rate in each locality is determined by the State Office of Real Property Services; personal property is not taxedBUSINESS INCENTIVES:
Empire Zones
Investment Tax Credits
Research/emerging technologies
Brownfields redevelopment
Green building development
Alternative fuels/energy
Film and TV production
SPONSOR PROFILES:
