Proposed Tax Could Make NYSE Leave NY: NYSE President in WSJ

New York Stock Exchange may need to relocate to another state if New York lawmakers reinstate the stock-transfer tax, NYSE President Stacey Cunningham writes in Wall Street Journal.

• Cunningham and 25 other representatives of New York’s securities industry wrote to state legislative leaders Wednesday advising against reviving the tax
• Says “New York’s leaders did the right thing in 1981 when they made the state’s stock-transfer tax dormant through a 100% rebate”
• As Wall Street firms move to Florida, Texas and other states with lower taxes, “if lawmakers opt to reinstate that tax, the NYSE may need to follow the lead ...