Small Business Tax Extension

May 22nd, 2020

May 22 , 2020

RE: An act to provide small businesses affected by COVID-19 an additional 90 days to pay certain monthly sales and payroll taxes

S.8372 (Jordan)

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 supports the enactment of this legislation.

This proposal would provide small businesses with an additional 90 days to pay any monthly sales and payroll tax which come due during the COVID-19 crisis.

To help stop the spread of the COVID-19 virus, thousands of businesses across the state were required to shut down. Despite these restrictions, many recurring obligations still need to be paid, including state sales and payroll tax. Without the ability to generate income, many businesses are struggling to meet these obligations, creating additional hardship.

This legislation would help ease some of the burden on New York’s small businesses, by providing additional time for businesses to pay their sales and payroll taxes. As we begin the reopening process short term relief may offer some businesses necessary relief until they are able to reopen and generate the income needed to meet their obligations.

As we begin a long economic recovery process, leaders in Albany should be focused on ways to support businesses. This legislation is a common-sense way to provide businesses with immediate relief at no cost to the state.  For these reasons Unshackle Upstate strongly supports the enactment of this legislation.

Contact:

Michael Kracker, Executive Director

716.541.1755

Michael.Kracker@unshackleupstate.com