“I think everyone has an interest in improving the business climate here in Western New York and across our state,” said Reilich. “Right now, it’s about putting people to work. Small-business job creators drive our economy and create long-term, private-sector employment. Economic success begins with cutting the red tape and lowering the taxes these small businesses will have to pay.”
The Reilich amendment establishes a tax credit for businesses that pay college tuition for future employees; lowers the corporate franchise tax for small businesses; creates a Business STAR program to combat property taxes; lowers the energy tax on businesses; provides for research-and-development benefits; and many other necessary measures to help small businesses.
“I firmly believe that by adopting measures like the Small Business Relief Act, New York’s business climate has the potential to drastically improve from what it is today,” said Reilich. “Businesses are reluctant to locate or expand in the Empire State because they are overtaxed and cannot afford to operate here. Lowering taxes and providing relief for them will give our local economies the chance to grow and reduce unemployment.”