Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.
Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.

CALL US TODAY: 646-355-1648

Innovative Solutions To Complex Legal Concerns
  1. Home
  2.  | 
  3. Corporate & Business Tax
  4.  | Business taxes in New York

Business owners in New York are likely already aware that they operate under burdensome taxes. A major accounting firm recently rated New York City as last out of 31 cities in the country at providing favorable tax climates for businesses. According a 2014 competitive tax analysis conducted by Forbes magazine, New York was found to have the highest tax cost in the country and the second highest total business costs behind San Francisco.

The cities that rated as being the most tax-friendly included Pittsburgh, Baltimore, Atlanta, Cleveland and Cincinnati. The report analyzed the total tax burden realized by businesses located in 107 cities spanning 10 countries. Ratings in the report were based on analyzing data concerning statutory labor costs, miscellaneous taxes on local businesses, property taxes, sales taxes, capital taxes and corporate income taxes. New York also ranked 48th in manufacturing and 40th in corporate services, research and development and digital services operations.

Business owners and entrepreneurs who need help with understanding the complicated federal, state and municipal tax codes and regulations often benefit from consulting legal counsel. Tax planning attorneys routinely assist commercial clients with launching startups and transaction structuring as well as creating safeguards and legal protection for the enterprise and owners.

Businesses that are involved in tax disputes may also find a meeting with legal counsel to be advantageous as well. These legal professionals might be able to negotiate more favorable terms with IRS agents along with the services of an accountant. A tax attorney might also be effective in solving issues involving international tariffs, real estate taxes and other related matters involved in operating a business.

Source: New York Business Journal, “New York last for business tax-friendliness, study says“, June 24, 2014

Archives

FindLaw Network