Perhaps no aspect of New York’s expansive 2014 tax reform has generated as much excitement as the incentives for qualified New York manufacturers. The new law spells out the requirements for qualification and has been supplemented by some additional guidance, including legislation passed a few weeks ago.
In their article for State Tax Notes, Sutherland attorneys Leah Robinson and Andrew Appleby pull together the 2014 tax law changes, various guidance published by the New York State Department of Taxation and Finance, and the recently passed 2015 tax law changes to provide a complete guide to the manufacturing benefits.
In April, New York City’s conforming legislation was enacted. It includes similar, but generally more restrictive benefits. Following the State Tax Notes article is a primer on the City’s differing manufacturer regime.
View full article and addendum.