For people and businesses affected by Hurricane Sandy, some tax relief is on the way. Gov. Andrew Cuomo announced a series of tax relief measures Dec. 18, including allowing impacted New Yorkers to file their tax returns late, and allowing businesses that relocated to New York to assist with recovery efforts exemption from several state taxes.
Employers will be granted a tax exemption if they donated to Hurricane Sandy relief efforts.
“We are delivering tax support and relief to the many New Yorkers who are still rebuilding following Hurricane Sandy’s unprecedented devastation,” Cuomo said. “These provisions will help affected individuals and business, as well as many of those providing assistance to New Yorkers, during this time of recovery.”
Businesses and individuals relocating to New York on a temporary basis as a result of the storm won’t be assessed corporate taxes, withholding taxes and personal income taxes. The policy covers the period from Oct. 26 through Dec. 31.
For more information, visit tax.ny.gov.