Areas of Practice - Business Law

Business Practice Group

Certified Businesses may be Eligible for Tax and Non-tax Incentives

New York State has established designated areas throughout the state in which certified businesses may be eligible for several tax and non-tax incentives. These Empire Zones ("EZs") are located in areas where economic development is needed by the local communities. A certified business located within an EZ may be eligible for exemptions from sales and real property taxes as well as eligible for business tax credits. A business may be eligible for locating or even expanding its business operations within an EZ.

There is also an opportunity for certain existing businesses that are located in EZs to take advantage of the tax benefits offered without any expansion or relocation of their current facilities. These zones have been designated in areas where there is a need to increase employment opportunities for local residents. Once certified a business can operate on a "tax free" basis for up to 10 years. Additional tax and non-tax incentives may continue after the 10 year period.

If we can be of any assistance or if we can answer any questions concerning the Empire Zone program benefits, please contact us. For additional information or to view a map of existing Empire Zone locations visit the Empire Zone's official website at http://www.empire.state.ny.us/serv_location_edz-ez.html.