Further accentuating the fact that I have been pretty steadfast in my position that New York is not quite open for business, the Tax Foundation has released their 2013 Business Tax Climate Index, and New York ranks 50th. 50th!
Consider this line from the release, “Despite moderate corporate taxes, New York scores at the bottom this year by having the worst individual income tax, the sixth-worst unemployment insurance taxes, and the sixth-worst property taxes.”
Exactly. NFIB/NY has been consistently saying that some pieces were in place but the Governor and legislature needed to go further. That the tax cap needs mandate relief (immediate mandate relief) and unemployment insurance needs reforming. And let me just state, that the laundry list of things that need to get done to create an organic economic climate in New York is lengthy.
I hope lawmakers and the Governor take this new index seriously. I know I and NFIB members do.