SINGLE SALES FACTOR ALLOCATIONS
2004 Priority Issue

Changing the income allocation formula for manufacturers would reduce State income tax liability for those manufacturers with a significant physical presence in New York. This change was included in the Governor's Executive Budget proposal. The Business Council is supporting the concept, but asking a faster phase-in.

The budget revenue bill passed by both houses of the legislature, S.6060B/A.9560B, does not include the Governor's single sales factor proposal.

8/10/04 DOB/Ways & Means/Senate Finance negotiations on issues within the Executive Budget Revenue package are underway: TBC has met with Senate Finance and Assembly Ways and Means Committees to promote issue.