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NYS Empire Zone Services

New York State Empire Zone programs have sparked new investment and new jobs in the four Western New York Empire Zones located within Buffalo, Tonawanda, Lackawanna and Niagara Falls.  As businesses expand within or move into Empire Zones, they must continue to examine the numerous New York State tax benefits offered by the Empire Zone programs.

SIGNIFICANT TAX CREDITS AVAILABLE
The benefits offered in these Zones can be quite significant and include wage tax credits, investment tax credits, employment incentive credits, tax reduction tax credits, real property tax credits, utility rate discounts and sales tax exemptions.  To receive these benefits, a business must be located in one of the zones and become certified.  All types of businesses can receive these benefits.

HOW WE CAN HELP
Lougen, Valenti, Bookbinder & Weintraub, LLP has consulted with and assisted many businesses in Western New York regarding these Empire Zone benefits.  Our services include:

• Explanation of Empire Zone credit benefits
• Exploring the best time for certification
• Projection of tax credit benefits
• Analysis of applicability
• Preparation of the annual forms for attachment to New York tax filings
• Assist in the selection of the best entity structure to maximize tax benefits
• Planning to optimize additional Empire Zone benefits