New York (NY) State Empire Zone Program

News Alert! See our update on the 2009 Empire Zone Program Legislative Changes

Freed Maxick & Battaglia, CPAs can assist your business in obtaining the tax and financial benefits offered by the New York State Empire Zone program. Freed Maxick has consulted with over 100 businesses in New York regarding Empire Zone benefits. Consulting with professionals who specialize in the Empire Zone program could prove the difference between receiving benefits or not. Familiarity and expertise with this program has been a factor in identifying millions of dollars of benefits that were overlooked by eligible businesses. The application process and obtaining benefits can be simple when prepared by experienced professionals.

Listen to our Empire Zone Radio Commercial!

		Is your business located in a NY State Empire Zone? Give us your address, we'll conduct some initial research and get back to you with our results.

NY Empire Zone Services:

• Initial consultation regarding the Empire Zone benefits and optimal timing of certification;
• Preparation of tax credit projections; application for Empire Zone certification and sales and use tax exemption;
• Preparation of the annual tax forms required to claim the various tax credits;
• Annual determination of eligibility for the various tax credits and sales and use tax exemption;
• Strategic planning to enhance access to specific Empire Zone benefits; and
• Consultation regarding the other financial incentives provided by the Empire Zone program.

Involvement with NY State Empire Zone Program 

√  Currently assisting over 80 businesses in N.Y. secure millions of dollars of Empire Zone program benefits.  Examples of benefits obtained for specific clients include:

• Over $7.2 million in credits for real property taxes;
• Over $1.5 million in wage tax credits; and
• $750,000 of zone capital credits

√  Freed Maxick director Don Warrant, CPA holds a position on the Buffalo Empire Zone board whose responsibilities include approval of zone boundary amendments, approval of certification applications, and allocation of zone capital credits. 

√  Provide assistance to the Buffalo, Lackawanna, Niagara Falls, Town of Tonawanda, and Genesee County Empire Zone coordinators as follows:

• Attend meetings with existing and prospective zone businesses
• Participate in open house events for zone businesses 
• Provide technical training sessions for zone coordinators and their staff

√  Under contract to provide assistance to small businesses in the Buffalo zone.

√  Authored tax legislation that became a part of the Tax Law regarding the limitation on the credit for real property taxes.
 
√  Freed Maxick has been requested to give numerous opinions regarding the Empire Zones program from the N.Y. State Department of Taxation and Finance.
 
√  Uncovered errors in the instructions to the Empire Zones program tax credit forms that were subsequently corrected by the N.Y. State Dept. of Tax and Finance.
 
√  Attend annual Empire Zones program conferences sponsored by Empire State Development Corporation.

√  Consulted with hundreds of businesses in New York (NY) regarding Empire Zones program benefits.

√  Presented to the following groups:

• Buffalo, Niagara Falls, and Rochester Institute of Management Accountants
• The N.Y. State Society of CPA’s Third Annual Western Regional Members in Industry and Commerce Conference Genesee County Empire Zone Workshop
• The 47th & 50th Institute on Taxation 

Download our Empire Zone Resources:

• NY Empire Zone Services Overview
• NY Empire Zone Program Benefits
• Freed Maxick's Empire Zone Consulting Qualifications

Empire Zone Contacts:

Don Warrant, CPA	Dave Barrett, CPA