Legislation introduced in New York this week expands tax exemptions for small businesses.
State Assemblyman Steve Stern of Huntington says the bill would help some small businesses on Long Island create a tax-deferred savings account, and build partnerships between public and private sector groups.
“It’s a package of legislative initiatives to help assist our local businesses, to help retain our existing businesses, to help attract new ones, to promote an environment that allows the local business to thrive.”
The package of bills will be up for debate when the New York State Legislature reconvenes in January.
