Governor Cuomo announced today a new Tax Free New York program that will transform SUNY campuses into magnets for new business. The program replicates successes across New York at select SUNY campuses, such as UAlbany and CNSE, SUNYIT, and the University at Buffalo. It will create communities that foster growth by exempting businesses in and around SUNY campuses from income, sales, property, and business tax:
Tax-Free NY will entice companies to invest in Upstate New York by offering new businesses the opportunity to operate completely tax-free – including no income tax for employees, no sales, property or business tax – for a decade, while also partnering with the world-class higher education institutions in the SUNY system.
The guidelines and incentives are fully listed below: