Assemblywoman Russell is Joined by Business Leaders to Call for the Repeal of the ‘Floor Tax’

May 29, 2009

From left to right: Scott Allen (Allen's Liquors), Karen DelMonico (Watertown Chamber of Commerce), David Gebo (A.J. Missert's Distributors), Shaun Diprinzo (Thousand Islands Wineries), Rodney Misch (Arsenal Wine and Liquor Depot), David Missert (CEO of Missert Distributors), Jeffrey Graham (Owner of Fort Pearl) and John Rice (JR Liquors)

Assemblywoman Russell joins business leaders and owners to announce the introduction of legislation to repeal the beer and wine “floor tax” (A.8576). This tax would essentially force businesses to pay taxes twice on beer and wines stocked on May 1st, and were given until July 20th to comply. This unfair tax has already driven recent sales down, as much as 20 percent in some cases, because businesses are being forced to cut their inventories to avoid being taxed twice on their stock. In addition, businesses were given little to no notice of compliance and timetable for payment. This has proven to be a difficult tax for many small businesses operating on tight budgets. Small businesses account for 80 percent of new jobs created in New York, and by imposing more taxes on them, we are hurting them and stunting New York’s chances for economic growth and stability.