“Gov. Cuomo has touted the program as a way to entice new businesses to New York, which is among the highest-taxed states in the country. The state is spending taxpayers’ money on ads running across the country to promote the program. Existing businesses have expressed concern that the new companies will have an unfair advantage. If accepted into the initiative, businesses will operate with no income tax, business tax, corporate tax, state taxes, local taxes, sales tax, property tax and franchise fees for 10 years. To be eligible, businesses must create new jobs in the first year. Higher-paid workers would have to pay income taxes after five years.”
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