Start-up NY: 100% Tax-Free for 10 Years? • Hacker News Board

Re: Start-up NY: 100% Tax-Free for 10 Years?

#61

Post by thekevan » Thu, Dec 19, 2013, 1:31 AM UTC

tedunangst wrote: post #33

pragone wrote: post #20

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.

Plenty of times I have mentioned being from Rochester, NY when in Florida or California. People there often assume it is a part of or suburb of NYC. Even after I have told them I am a 7 hour drive from the city and never even visited it until after I moved to Washington DC at 26.

Wikipedia even notes the differentiation is important.

"The city is referred to as New York City or the City of New York to distinguish it from the State of New York, of which it is a part"

Re: Start-up NY: 100% Tax-Free for 10 Years?

#62

Post by notastartup » Thu, Dec 19, 2013, 1:35 AM UTC

PaulHoule wrote: post #6

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.

it can't be higher than Vancouver, BC.

Tax Payable on Earning 150k:

$$20,127 CAD (New York) $45,624 CAD (Vancouver, BC) 1.07 (USD/CAD)

Re: Start-up NY: 100% Tax-Free for 10 Years?

#63

Post by thekevan » Thu, Dec 19, 2013, 1:36 AM UTC

notastartup wrote: post #55

Okay but the rents must be cheaper than Vancouver, BC right? Taxation must be lower too? I signed up and planning to move there IF this is not one of those 'too good to be true' deal that ends up in snow flakes. The tax rates in BC is insane both as an employee and employer. The cost of hiring an employee because of taxation and other social welfare benefits in an attempt to become more 'Netherlandly' forces down sal…

New York is not synonymous with New York City.

There's a whole other state outside of NYC. In fact, many of us don't even like the city.

Re: Start-up NY: 100% Tax-Free for 10 Years?

#64

Post by meddlepal » Thu, Dec 19, 2013, 1:39 AM UTC

I wonder, if, and how MA and Boston might respond? NYC is probably a bigger competitor than San Francisco is for getting start-ups in the region only because of proximity.

Re: Start-up NY: 100% Tax-Free for 10 Years?

#65

Post by notastartup » Thu, Dec 19, 2013, 1:52 AM UTC

thekevan wrote: post #63

notastartup wrote: post #55

Okay but the rents must be cheaper than Vancouver, BC right? Taxation must be lower too? I signed up and planning to move there IF this is not one of those 'too good to be true' deal that ends up in snow flakes. The tax rates in BC is insane both as an employee and employer. The cost of hiring an employee because of taxation and other social welfare benefits in an attempt to become more 'Netherlandly' forces down sal…

New York is not synonymous with New York City. There's a whole other state outside of NYC. In fact, many of us don't even like the city.

Mind blown. I'm one of those ignorant Canadians that they constantly try to keep in the woods and deny the existence.

Re: Start-up NY: 100% Tax-Free for 10 Years?

#66

Post by jeffasinger » Thu, Dec 19, 2013, 2:09 AM UTC

jrockway wrote: post #11

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…

This applies to all of New York State. Taxes aren't low, but cost of living is definitely very low. There's lots of Universities upstate too (both to colocate with, and to try to hire talented grads from).

Re: Start-up NY: 100% Tax-Free for 10 Years?

#67

Post by gametheoretic » Thu, Dec 19, 2013, 2:23 AM UTC

dworin wrote: post #39

The hidden fine print is that you have to affiliate with a university and support that university's mission. I wonder how loose they'll be in interpreting that support. Does "providing internships to students every summer" count, or will it need to be more substantial?

The following is not sarcastic: be more cynical. What would you want, if you were a university president? Startup branding. They want you to walk around talking about how SUNY-whatever is where the startup culture is at.

Re: Start-up NY: 100% Tax-Free for 10 Years?

#68

Post by carterschonwald » Thu, Dec 19, 2013, 2:27 AM UTC

crazygringo wrote: post #54

This is pretty awesome, and it seems to apply to New York City too: - In New York City, Long Island and Westchester County, businesses must be start-ups or one of a number of broadly defined “high technology” businesses. But this looks like a major caveat: - Participation in START-UP NY does not necessarily require that your business be on or next to a campus, but it must be located on property affiliated with a univ…

agreed!

I'm a bit confused about the "need to work in a university provisioned space". Theres so many ways i'd rather interact with / collaborate with folks at universities than use their office space. Though If that meant I could have zero pay wells for papers I need to look up occasionally, that could be tempting!

Re: Start-up NY: 100% Tax-Free for 10 Years?

#69

Post by joonix » Thu, Dec 19, 2013, 2:27 AM UTC

jrockway wrote: post #11

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…

Nonsense. New York is not nearly as bad as SF for rent. I know someone who just rented a studio in the heart of lower Manhattan for $1500 and that includes heat and water. On top of that you don't need a car or Uber or any of that. Unlimited subway pass and/or a bike or CitiBike membership and you're set. That is absolutely manageable for a tech professional and well worth it for all the benefits of living here and access to opportunities. If you're doing a startup you're probably not that concerned with income taxes in the first few years. The one real downside is that office space is pretty expensive.

And I've lived here almost a year now and have never had a cockroach in my apartment, or even so much as a silverfish in the bath tub.

Re: Start-up NY: 100% Tax-Free for 10 Years?

#70

Post by goldenkey » Thu, Dec 19, 2013, 2:28 AM UTC

joonix wrote: post #69

jrockway wrote: post #11

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…

Nonsense. New York is not nearly as bad as SF for rent. I know someone who just rented a studio in the heart of lower Manhattan for $1500 and that includes heat and water. On top of that you don't need a car or Uber or any of that. Unlimited subway pass and/or a bike or CitiBike membership and you're set. That is absolutely manageable for a tech professional and well worth it for all the benefits of living here and a…

$1500, does that include the cockroaches and bed bugs? Because you better believe it.