Assemblyman Tom McKevitt (R,C,I – East Meadow) has vowed to encourage small business on Long Island and is standing behind his conference’s Small Business Improvement Act of 2006.
New York’s economy is fueled by small business, with 98 percent of all companies in the state considered small businesses. These companies employ over half of the workers in New York. That is why McKevitt and his Assembly minority colleagues have introduced, and are pushing their multi-faceted proposal which targets reducing taxes and increasing jobs in New York.
“Small business day is about creating an opportunity for business owners in New York to maintain and expand their field of work,” stated McKevitt. “I greatly respect those that are able to build a company from the ground up and create jobs for people in their communities. It is my duty to help these people prosper and will do everything I can to help preserve existing jobs and create new jobs on Long Island.”
In order to stimulate commerce, McKevitt wishes to lower tax bills by creating a Small Business Energy Tax reduction. The plan will also increase the sales tax vendor credit to 10 percent and raise the maximum credit to $1,000 per year for compliance costs.
Creating successful businesses also requires well-trained employees, and establishing a Small Business Tax Credit for businesses that provide job training to employees will encourage training at a higher level. Providing education grants to business owners and employees for courses required to operate or support small business will also aid in creating and maintaining an educated work force.
“Small businesses are the backbone of our great economy,” said McKevitt. “New York has one of the premier economies in our country, and in order to keep our small businesses thriving, my colleagues and I offer up a plan to save them money and provide incentives for training and education.”