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PORT CHESTER, N.Y. The New York State Assembly passed legislation that permanently eliminates the MTA payroll tax for small businesses with less than $1.25 million in payroll and all private, parochial, and public schools. It will also "considerably reduce" the tax for businesses with payrolls under $1.75 million, Assembly members said.
According to Assembly member George Latimer (D District 91), the legislation was passed on Wednesday and will be signed by Gov. Andrew Cuomo on Friday.
"This legislation is great news for small businesses. Lifting this onerous financial burden will enable us to create a more business-friendly climate in Rye, Port Chester and Rye Brook, and everywhere else in Westchester," Latimer said.
Latimer called the tax "unfair" and stated that it provided "unequal benefit" to small and big businesses. Latimer added that the legislature will eliminate the MTA payroll tax for 25,000 small businesses countywide.
"The Assembly recognizes the current tough economic situation and has implemented this legislation to help cut costs for small businesses," Latimer said.
Joseph Gagliardo, owner of Village Appliances in Port Chester, called the legislation "good, but insignificant.
"It's not going to make or break us," said his wife, Katherine Gagliardo. "It's one less thing but it's not like we can go out and hire another person because of it.
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