Bloomberg Tax
Feb. 9, 2021, 6:20 PM

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

Jim Silver
Jim Silver
Bloomberg News

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 ...