New York State has a Tax-Free Program
Perfect for Your Business
START-UP NY fosters entrepreneurism and job creation on a large scale across New York State by transforming SUNY campuses and 20 strategic state properties into tax-free communities. In the Hudson Valley, your first step to taking advantage of this opportunity is the Hudson Valley Economic Development Corporation.
Take a look at some of your potential benefits:
- No business/corporate taxes, sales taxes and property taxes for 10 years;
- No employee income taxes for five years, with extensions given for another five years under high-income eligibility exclusions.
To be eligible, businesses need to:
- Be aligned with or further the academic mission of the college or university;
- Have positive community and economic benefits;
- Create and maintain new jobs.
Type of potentially eligible businesses:
- Start-up companies;
- Existing New York State companies that can demonstrate new job creation;
- Out-of-state companies that are relocating into New York State.