41–50 of 110 posts
As a New Yorker, I think this sucks. We already pay high taxes and if somebody gets a tax break that means all the rest of us will pay even more.
Make taxes higher, I say. I hope to one day have a New York City entirely funded by its full-time residents, so we can stop pretending to care about tourists.
Clever, both financially and psychologically. If you plan on leaving after 10 years consider this, after a decade you will have built your entire logistics, business partnerships, network, staff, and support system in NYC. Moving out will be very difficult. You won't want to.
Earlier quoted context omitted.
I just want to point out that there are large portions of New York that are not New York City
Pedantically, the name of the city is just New York. Given the context ("or San Francisco"), I think it's clear he didn't mean to include Buffalo. "New York or California" would have meant the entire state.
At the same time, the older generation, such as my parents, used "New York" (or "the city") to mean approximately "Manhattan", a holdover from what the city was before the consolidation with what are now the remaining boroughs. That always seemed old-fashioned to me. I believe you can still see some old subway signs that use "New York" to mean "Manhattan". (Incidentally New York is also the name of the county that is almost but not quite coterminous with the borough of Manhattan.)
When I was growing up, the state was more or less never referred to as simply "New York" by people in the New York the city. It was "New York State", most of which was "Upstate New York" (though that couldn't refer to Long Island, and it was never quite clear where 'Upstate' began).
The reverse shibboleth quality of "New York City"/"NYC" is probably dying out, may be already dead. Nonetheless I find it annoying.
Don't start your startup in New York or San Francisco. Rents here are twice what they are in more reasonable parts of the country, and you get absolutely nothing in exchange except maybe a slightly-less-shallow talent pool. (Oh, and cockroaches. Lots of cockroaches.) Your employees will be paid twice as well, and your offices will be twice as nice... for free... if you locate yourself outside the expensive parts of t…
Earlier quoted context omitted.
I just want to point out that there are large portions of New York that are not New York City
Pedantically, the name of the city is just New York. Given the context ("or San Francisco"), I think it's clear he didn't mean to include Buffalo. "New York or California" would have meant the entire state.
Don't start your startup in New York or San Francisco. Rents here are twice what they are in more reasonable parts of the country, and you get absolutely nothing in exchange except maybe a slightly-less-shallow talent pool. (Oh, and cockroaches. Lots of cockroaches.) Your employees will be paid twice as well, and your offices will be twice as nice... for free... if you locate yourself outside the expensive parts of t…
The data proves that the kinds of companies that need a great engineering talent pool and venture capital will tend to hail just a couple of locations.
I'm not saying there aren't exceptions. There are. But in an endeavor where the failure risk is so high in the most optimal of circumstances, I wouldn't add another risk factor like location into the mix.
Just my thoughts.
Don't start your startup in New York or San Francisco. Rents here are twice what they are in more reasonable parts of the country, and you get absolutely nothing in exchange except maybe a slightly-less-shallow talent pool. (Oh, and cockroaches. Lots of cockroaches.) Your employees will be paid twice as well, and your offices will be twice as nice... for free... if you locate yourself outside the expensive parts of t…
Not sure this is anywhere as good as it sounds. Most startups aren't profitable for several years (if ever), so income tax would not be an issue during this period. Even after there is income, there would be loss carry-forwards that would have soaked up income taxes from the first couple of profitable years. So this probably doesn't produce much benefit for much/most of the 10 years. Eliminating sales tax isn't that…
I didn't think they were waiving personal income taxes either, but it actually looks like they are: What is the Personal Income Tax exemption for employees? Employees of businesses in START-UP NY will pay no income taxes on their wages for the first five years. For the second five years, employees will pay no taxes on income up to $200,000 of wages for individuals, $250,000 for a head of household and $300,000 for ta…