Local

Cuomo unveils NY Tax Plan

Cuomo unveils NY Tax Plan

Gov. Andrew Cuomo has proposed cutting the state’s corporate income tax from 7.1 percent to 6.5 percent in the coming year and eliminating it altogether for upstate manufacturers.

Surrounded Monday by chamber of commerce officials, the governor says he wants to remake the state’s business climate by also offsetting 20 percent of manufacturers’ property taxes while cutting the state utility surcharge.

The administration says a projected $2 billion surplus from its 2 percent state spending cap will fund the proposed tax breaks, which would later include tax credits for lower-income income homeowners and renters.

Cuomo also wants to pay more state aid to any of New York’s 10,500 local governments that enforce hard 2 percent spending caps and cut their costs by consolidating services with other towns, villages, cities and counties.

Copyright 2014 The Associated Press.

More Local Headlines

in Local

New York lawmaker arrested following lengthy investigation

state leg

William Scarborough said in March that investigators looked through his home, office to investigate daily expense claims

in Local

Frustrated with Commons delays, Ithaca biz owners to speak out Wednesday

Commons September

Business owners are speaking out after they say delays have hurt their bottom line

in Local

Bill Gates to tour Cornell campus

Gates

A pioneer in computer technology is in Ithaca today.

in Local

United Way holds 18th annual “Day of Caring”

United Way

A crowd of supporters came to Stewart Park Tuesday to kick off the event.

in Local

$1,000 reward for info on Cortland cat shootings

Local_News41-620x400

The shootings occurred earlier this month in the City of Cortland and the town of Cincinattus.