Bloomberg Tax
Jan. 8, 2020, 8:10 PMUpdated: Jan. 8, 2020, 10:19 PM

Cuomo Proposes N.Y. Tax Cuts for Small Businesses, Farmers (2)

John Herzfeld
John Herzfeld
Staff Correspondent

New York small businesses would get their corporate tax rate cut almost in half, and farmers would see better tax treatment under new proposals by Gov. Andrew M. Cuomo (D).

The plans for small businesses and farmers were among the features of Cuomo’s Jan. 8 State of the State address, which also included proposals for the legislature to take another shot at legalizing marijuana—with an estimated eventual revenue payoff of $300 million—and to institute “green tax credits” for environmental-related job creation and capital investments.

Cuomo touted what he called “the lowest middle class tax ...

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