November 13, 2012
Sales Tax Relief to Small Businesses for Sandy Reconstruction
Suffolk County Executive Steve Bellone and the Suffolk IDA to Provide Emergency Sales Tax Relief to Small Businesses for Super Storm Sandy Reconstruction Efforts
Program to Aide with the Rebuilding of Suffolk's Small Businesses
(Hauppauge, NY-November 13, 2012) Today, Suffolk County Executive Steve Bellone announced an emergency sales tax relief program to ease the costs of reconstructing Suffolk County's small businesses.
"Sandy was a devastating storm that affected many small businesses in Suffolk. This program will provide immediate relief for our businesses to rebuild," said Suffolk County Executive Steve Bellone.
The program provides relief from state and local sales tax on building materials such as windows, sheet rock, flooring and electrical as well as on equipment a business needs to replace that was damaged by the storm.
Anthony Manetta the IDA's Executive Director said, "Making sure our companies operate again efficiently is a main priority. We have streamlined the IDA process to get our companies to start rebuilding quickly and more cost effectively".
The program will provide sales tax relief for purchase of building materials and for the repurchase of equipment of up to $100,000 in purchase costs. There will be 200 businesses eligible for the program. A business must have 25 or fewer full-time employees to participate.
Joanne Minieri, Commissioner of Economic Development & Planning, and IDA Board Member added, "It is absolutely critical that small businesses open and operate again. They are the lifeblood of our local economy."
When a small business owner takes advantage of the IDA's relief program, the agency will facilitate discussions between them and the Town they operate in. The Town will be able to communicate directly with the business to determine if there are any issues they can develop solutions for.
"Partnering with the Towns gives an added level of support to the local business owners in need of help. They could have a question on permitting, or where to access certain Town specific forms," said IDA Executive Director Anthony Manetta.