
Governor Cuomo giving his State of the State address the Empire State Plaza Convention Center in Albany Wednesday. (Credit: Courtesy Flickr photo)
Small business owners across the North Fork could soon benefit from tax reductions that would make income tax rates the lowest in New York State history, according to a proposal outlined by Gov. Andrew Cuomo in his State of the State address Wednesday.
The proposition would help small businesses incorporated in New York State by reducing the net income tax rate from the current rate of 6.5 percent to 2.5 percent over a three-year period, amounting to a four percent reduction by 2018.