Alert
January 24, 2014

START-UP NY: Creating Tax-Free Zones for High-Tech Startups in New York State

In an effort to attract startup companies and leverage the research capacity and workforces available in New York’s colleges and universities, New York State recently established tax-free zones for certain startup companies. The zones on the campuses of the State University of New York and other university communities are in the process of becoming effective and will provide, for up to 10 years, a 100% tax elimination credit for state and local tax liability or a pro-rated credit based on the percentage of assets and payroll located in the tax-free zone.