Local Programs

  1. Property Tax Exemption
  2. Sales Tax Exemption
  3. Mortgage Recording Tax Exemption

The IDA offers these incentives in accordance with its Uniform Tax Exemption Plan Policy.

New York State Programs

Additional information about New York State incentive programs:

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START-UP NY benefits are available to eligible businesses that relocate or expand to the vicinty of a New York State college or university if the development creates jobs and aligns with that college's mission.

Businesses must apply for and receive certification from New York State in order to become eligible for one (1) or more of the following START-UP NY incentives:

Business Tax-Free New York Area Elimination Credit: This credit would be calculated by the business when filing its tax return. For businesses with 100 percent of their operation (assets and payroll) in a tax-free area(s), the credit would elimnate any tax liability. For businesses with operations in and out of a tax-free area, the credit would be prorated based on percentage of assets and payroll within a tax-free area(s).

Organization Tax and License Maintenance Fees: This tax and these fees are levied on corporations based on the value of their stock. The organization tax and license fee are generally paid once and the maintenance fee is paid annually at certain times of the year according to payment schedules in tax law. Payment of the license and maintenance fees is made to the Tax department by businesses incorporated out of state and the organization tax is paid to the Department of State for businesses incorporated in New York. if a bsuiness is 100% located in a tax-free area(s), the business would be exempt from paying the relevant taxes and fees once certified.

Sales and Use Tax: Once certified, a business would apply to the Tax Department to receive a credit or refund for sales and use taxes paid for goods and services used or consumed by the business operation in a tax-free area(s).

Real Estate/Real Property Transfer Tax: Leases of real property in a tax-free area(s) to an approved business are exempt from New York State real estate transfer tax. This exemption also applies to any local real estate or real proprty transfer tax imposed locally.

Personal Income Taxes (New York State, New York City, Yonkers): Employees hired for and whose jobs are certified as net new jobs will pay no state or local incomes taxes for the first five (5) years. For the second five (5) years, employees will pay no taxes on income up to $200,000 for individuals, $250,000 for a head of household and $300,000 for taxpayers filing a joint return. There is an annual cap per business on the number of employees that qualify for this exemption and an annual cap statewide of 10,000 net new jobs.

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 Excelsior Jobs Program

NY's Excelsior Jobs Program provides job creation and investment incentives to firms in such targeted industries as biotechnology, pharmaceutical, high-tech, clean-technology, green technology, financial services, agriculture and manufacturing. Firms in these industries that create and maintain new jobs or make significant financial investment are eligble to apply for up to four (4) new tax credits:

Jobs Tax Credit: A credit of 6.85% of wages per job.

Investment Tax Credit: Valued at 2% of qualified investments.

Research and Development Tax Credit: A credit of 50% of the Federal Research and Development credit up to three% of research expenditures in NYS.

Real Property Tax Credits: Available to firms locating in certain distressed areas and to firms in targeted industries that meet higher employment and investement thresholds.

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Consolidated Funding

New York has a Consolidated Funding Application (CFA) Program. This CFA process allows businesses to use a single application point of entry to apply for grants, loans and tax credits available from over twenty (20) New York State Programs administered by over ten (10) State Agencies. Each year, hundreds of millions of dollars of State funds are distributed to businesses seeking financial assistance through the CFA process.