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Started By
Message
Competitive Tax Policies
Posted on 8/10/14 at 9:53 am
Posted on 8/10/14 at 9:53 am
Here's a blurb about the tax campaign that NY State is offering:
So....... The Democratic northern state tries to attract businesses away from Southern states (or stop haemorrhaging businesses to the South), but if American companies decide to located their HQ in Scotland, that's bad? At some point Washington DC has to understand that taxes and regulations kill businesses right?
quote:
There’s a new advantage to doing business in New York. A big one. START-UP NY, Governor Cuomo’s groundbreaking initiative, is transforming communities across the state into tax-free sites for new and expanding businesses. Now, businesses can operate 100% tax-free for 10 years. No income tax, business, corporate, state or local taxes, sales and property taxes, or franchise fees.
So....... The Democratic northern state tries to attract businesses away from Southern states (or stop haemorrhaging businesses to the South), but if American companies decide to located their HQ in Scotland, that's bad? At some point Washington DC has to understand that taxes and regulations kill businesses right?
2
Posted on 8/10/14 at 9:57 am to Aubie Spr96
quote:
So....... The Democratic northern state tries to attract businesses away from Southern states (or stop haemorrhaging businesses to the South), but if American companies decide to located their HQ in Scotland, that's bad?
Yes.
Posted on 8/10/14 at 9:59 am to SpidermanTUba
You don't see the philosophical inconsistency in that position?
Posted on 8/10/14 at 10:01 am to Aubie Spr96
n
Posted on 8/10/14 at 10:03 am to SpidermanTUba
So is that a 'yes' that you think it is ok for companies to relocate in order to manage their tax exposure?
Posted on 8/10/14 at 10:09 am to Aubie Spr96
I can't wait to see the reaction when many of the businesses that took advantage of this program relocate to lower tax states when their 10 year tax holidays expire. There are some businesses that will not be able to relocate because all of their economic activity must take place in New York. But those who can relocate their operations to lower tax states will likely do so.
Prudent business owners will set aside some of the tax savings for a relocation fund. Maybe I should move to New York and open a consulting business advising New York business owners on how to prepare to depart New York. What could be sweeter than taking advantage of START-UP NY, and not paying New York taxes, advising people on how to avoid New York taxes when their START-UP NY advantages expire?
Prudent business owners will set aside some of the tax savings for a relocation fund. Maybe I should move to New York and open a consulting business advising New York business owners on how to prepare to depart New York. What could be sweeter than taking advantage of START-UP NY, and not paying New York taxes, advising people on how to avoid New York taxes when their START-UP NY advantages expire?
Posted on 8/10/14 at 10:16 am to Poodlebrain
Isn't NY one of those states that hounds former residents by auditing them for years after they leave?
Posted on 8/10/14 at 10:28 am to SpidermanTUba
So you brag about going to Mexico for your dental care but scold others for doing what's most financially prudent for their situation?
I will defend your decision to save money by going to Mexico acknowledging that it takes money out of the American system. I challenge that American system to adapt such that you would prefer staying home for dental care. I believe in choice.
I will defend your decision to save money by going to Mexico acknowledging that it takes money out of the American system. I challenge that American system to adapt such that you would prefer staying home for dental care. I believe in choice.
Posted on 8/10/14 at 10:43 am to lsusaintsfan4life
The problem I see is while states are interested in keeping and attracting businesses, they have not done a good job creating a strong entrepreneurial environment to create more businesses. Those northern states have crippled entrepreneurs which provide the basis for industry.
Posted on 8/10/14 at 10:55 am to lsusaintsfan4life
quote:Wut?
So you brag about going to Mexico for your dental care but scold others for doing what's most financially prudent for their situation?
¿él consigue su atención dental en México?
Posted on 8/10/14 at 12:12 pm to Semaphore
quote:
So is that a 'yes' that you think it is ok for companies to relocate in order to manage their tax exposure?
We will never get an answer to this.
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