Chamber of Commerce Tax Credit (S.7354)

May 18th, 2020

May 18, 2020

RE: AN ACT to amend the tax law in relation to providing a deduction against adjusted gross income for dues paid by small businesses to chambers of commerce

S.7354 (Kaplan)

MEMORANDUM IN SUPPORT

Unshackle Upstate, a non-partisan, pro-taxpayer, pro-economic growth, education and advocacy coalition made up of business and trade organizations from all parts of Upstate New York strongly supports this legislation.

This proposal would amend New York State tax law to allow for small businesses of 50 employees or fewer to deduct the cost of their membership dues to their local chamber of commerce. This deduction would not include any membership dues that are used for the purposes of lobbying.

Chambers of Commerce offer meaningful benefits that have a positive impact on member businesses and employers. The current COVID-19 crisis has put even greater emphasis on the value these organizations bring to their communities, especially for New York’s small businesses.

Small businesses make up the vast majority of employers in New York; it is important that these businesses have the opportunity to access the benefits of chamber membership. Unfortunately, as the costs associated with operating a business in New York State have risen, many businesses have been forced to make tough decisions.

Providing a tax deduction to help small businesses cover the costs of their chamber of commerce membership dues will allow current chamber members to save money and encourage countless other businesses to take advantages of the services offered by their local chamber. Increasing access to the services provided by chambers of commerce will

Unshackle Upstate has consistently advocated for policies that will make New York a better place to do business. If enacted, this legislation would allow small businesses to take advantage of the numerous benefits of membership in their local chambers of commerce. Doing so would have a profoundly positive impact on our state’s business climate.

For these reasons Unshackle Upstate strongly supports the enactment of this legislation.

Contact:

Michael Kracker, Executive Director

716.541.1755

Michael.Kracker@unshackleupstate.com